MaxLinear, Inc. (NASDAQ:MXL) Insider Connie H. Kwong Sells 5,000 Shares

MaxLinear, Inc. (NASDAQ:MXL) insider Connie H. Kwong sold 5,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $18.61, for a total transaction of $93,050.00. Following the completion of the transaction, the insider now directly owns 49,147 shares of the company’s stock, valued at $914,625.67. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MaxLinear Stock Performance

Shares of MXL stock traded down $0.66 during mid-day trading on Thursday, hitting $18.66. The company’s stock had a trading volume of 2,560,383 shares, compared to its average volume of 1,025,840. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The company’s fifty day simple moving average is $14.65 and its 200-day simple moving average is $16.05. MaxLinear, Inc. has a 52 week low of $11.08 and a 52 week high of $26.59.

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 analysts’ consensus estimates of ($0.32) by ($0.04). The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts forecast that MaxLinear, Inc. will post -1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Wells Fargo & Company assumed coverage on shares of MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 price objective for the company. Finally, Craig Hallum decreased their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.29.

Institutional Investors Weigh In On MaxLinear

Large investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in shares of MaxLinear during the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of MaxLinear during the second quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in shares of MaxLinear in the 3rd quarter worth about $42,000. GAMMA Investing LLC boosted its stake in MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 2,093 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in MaxLinear during the 2nd quarter worth approximately $56,000. 90.79% of the stock is currently owned by institutional investors and hedge funds.

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.