MaxLinear (NASDAQ:MXL) Stock Price Down 5.7% Following Insider Selling

Shares of MaxLinear, Inc. (NASDAQ:MXL) traded down 5.7% during trading on Tuesday following insider selling activity. The company traded as low as $19.69 and last traded at $19.71. 126,803 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,037,065 shares. The stock had previously closed at $20.90.

Specifically, insider Steven G. Litchfield sold 32,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the transaction, the insider now directly owns 365,868 shares in the company, valued at $7,445,413.80. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MXL. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company started coverage on MaxLinear in a research note on Friday, November 22nd. They set an “equal weight” rating and a $14.00 target price for the company. Benchmark increased their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Craig Hallum lowered their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.14.

MaxLinear Stock Performance

The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.13 and a beta of 1.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.95 and a quick ratio of 1.38. The stock has a 50 day simple moving average of $15.64 and a two-hundred day simple moving average of $16.09.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The business had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. MaxLinear’s revenue was down 40.2% on a year-over-year basis. During the same period last year, the business posted ($0.02) EPS. As a group, analysts anticipate that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Institutional Trading of MaxLinear

Several institutional investors have recently modified their holdings of MXL. Innealta Capital LLC purchased a new stake in MaxLinear in the 2nd quarter valued at $30,000. International Assets Investment Management LLC purchased a new position in shares of MaxLinear during the second quarter worth about $31,000. Truvestments Capital LLC acquired a new position in MaxLinear in the 3rd quarter valued at about $42,000. GAMMA Investing LLC increased its position in MaxLinear by 151.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 2,093 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in MaxLinear during the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.