Key Points
- CEO Kishore Seendripu sold 240,000 MaxLinear shares at an average price of $84.28, generating $20.2 million; he retained 175,727 shares, a 57.73% reduction in his ownership.
- Seendripu also sold 351,454 shares the following Monday for approximately $30.2 million, bringing his reported recent sales to about $50.4 million.
- MaxLinear recently beat quarterly earnings and revenue expectations, while analysts remain mixed: the stock has an average “Hold” rating and an average price target of $85.
MaxLinear, Inc (NASDAQ:MXL - Get Free Report) CEO Kishore Seendripu sold 240,000 shares of MaxLinear stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $84.28, for a total value of $20,227,200.00. Following the completion of the sale, the chief executive officer owned 175,727 shares of the company's stock, valued at $14,810,271.56. The trade was a 57.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Kishore Seendripu also recently made the following trade(s):
- On Monday, August 17th, Kishore Seendripu sold 351,454 shares of MaxLinear stock. The shares were sold at an average price of $85.95, for a total transaction of $30,207,471.30.
MaxLinear Stock Performance
Shares of NASDAQ MXL opened at $72.63 on Wednesday. The firm's 50-day moving average price is $82.95 and its 200-day moving average price is $56.27. MaxLinear, Inc has a 52-week low of $12.77 and a 52-week high of $128.30. The company has a market cap of $6.59 billion, a PE ratio of -61.03 and a beta of 3.96. The company has a quick ratio of 1.15, a current ratio of 1.78 and a debt-to-equity ratio of 0.26.
MaxLinear (NASDAQ:MXL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $168.85 million during the quarter, compared to analysts' expectations of $164.64 million. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The firm's quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current year.
Hedge Funds Weigh In On MaxLinear
A number of institutional investors have recently bought and sold shares of the stock. Carolina Wealth Advisors LLC bought a new stake in MaxLinear during the second quarter valued at about $47,000. Global Retirement Partners LLC purchased a new stake in MaxLinear in the second quarter worth about $56,000. State of Wyoming bought a new position in shares of MaxLinear in the second quarter worth about $126,000. CoreCap Advisors LLC bought a new position in shares of MaxLinear in the second quarter worth about $134,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of MaxLinear during the 2nd quarter valued at about $147,000. 90.79% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MXL. Needham & Company LLC boosted their target price on shares of MaxLinear from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Weiss Ratings restated a "sell (d-)" rating on shares of MaxLinear in a research note on Friday, July 17th. Wells Fargo & Company lifted their price objective on MaxLinear from $42.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 20th. Wall Street Zen upgraded MaxLinear from a "hold" rating to a "buy" rating in a research report on Sunday, July 26th. Finally, Roth Capital raised their target price on MaxLinear from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MaxLinear presently has an average rating of "Hold" and an average target price of $85.00.
Check Out Our Latest Stock Report on MaxLinear
MaxLinear Company Profile
(
Get Free Report)
MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company's product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.
MaxLinear's semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.
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