Ted L. Tewksbury III Sells 6,071 Shares of MaxLinear, Inc. (NASDAQ:MXL) Stock

MaxLinear, Inc. (NASDAQ:MXL) Director Ted L. Tewksbury III sold 6,071 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $10.40, for a total transaction of $63,138.40. Following the sale, the director now owns 74,995 shares of the company’s stock, valued at $779,948. This represents a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MaxLinear Stock Down 0.6 %

Shares of NASDAQ:MXL opened at $10.57 on Wednesday. The firm has a market capitalization of $894.58 million, a PE ratio of -3.61 and a beta of 1.66. MaxLinear, Inc. has a 1 year low of $8.35 and a 1 year high of $26.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.28. The firm’s 50-day moving average is $11.34 and its two-hundred day moving average is $15.57.

MaxLinear (NASDAQ:MXL) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. The firm had revenue of $95.93 million for the quarter, compared to the consensus estimate of $95.32 million. During the same period in the prior year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts predict that MaxLinear, Inc. will post -0.37 EPS for the current year.

Institutional Trading of MaxLinear

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in MaxLinear by 3,698.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,525,419 shares of the semiconductor company’s stock worth $30,173,000 after purchasing an additional 1,485,256 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of MaxLinear during the fourth quarter worth approximately $25,659,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of MaxLinear by 10.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after buying an additional 115,867 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in MaxLinear in the fourth quarter valued at approximately $25,027,000. Finally, Point72 Asset Management L.P. lifted its stake in MaxLinear by 1,813.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,256,300 shares of the semiconductor company’s stock worth $24,850,000 after acquiring an additional 1,190,647 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MXL. Loop Capital cut their target price on MaxLinear from $18.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, January 30th. Roth Capital set a $11.00 price objective on shares of MaxLinear and gave the company a “neutral” rating in a report on Thursday, April 24th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of MaxLinear in a research note on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.06.

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.