Kishore Seendripu Sells 240,000 Shares of MaxLinear (NASDAQ:MXL) Stock

MaxLinear, Inc (NASDAQ:MXLGet Free Report) CEO Kishore Seendripu sold 240,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $84.28, for a total transaction of $20,227,200.00. Following the sale, the chief executive officer owned 175,727 shares in the company, valued at approximately $14,810,271.56. The trade was a 57.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kishore Seendripu also recently made the following trade(s):

  • On Monday, August 17th, Kishore Seendripu sold 351,454 shares of MaxLinear stock. The stock was sold at an average price of $85.95, for a total transaction of $30,207,471.30.

MaxLinear Price Performance

Shares of NASDAQ MXL traded down $12.13 during midday trading on Tuesday, reaching $72.63. The stock had a trading volume of 2,731,502 shares, compared to its average volume of 3,200,429. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of -61.03 and a beta of 3.96. MaxLinear, Inc has a 12-month low of $12.77 and a 12-month high of $128.30. The stock has a 50-day moving average of $82.95 and a 200-day moving average of $55.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.15 and a current ratio of 1.78.

MaxLinear (NASDAQ:MXLGet Free Report) last issued its earnings results on Thursday, July 23rd. The semiconductor company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. MaxLinear had a negative net margin of 18.24% and a positive return on equity of 2.24%. The company had revenue of $168.85 million during the quarter, compared to the consensus estimate of $164.64 million. During the same quarter in the prior year, the firm posted $0.02 EPS. MaxLinear’s quarterly revenue was up 55.2% compared to the same quarter last year. As a group, research analysts anticipate that MaxLinear, Inc will post 0.78 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on MXL shares. Needham & Company LLC boosted their price target on MaxLinear from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company lifted their price objective on shares of MaxLinear from $42.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Susquehanna upped their target price on shares of MaxLinear from $45.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Friday, July 17th. Finally, Loop Capital upgraded shares of MaxLinear from a “hold” rating to a “buy” rating and lifted their price target for the company from $17.00 to $75.00 in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.00.

Read Our Latest Stock Analysis on MXL

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in MaxLinear by 16.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,563 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 217 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MaxLinear by 5.6% in the 2nd quarter. GAMMA Investing LLC now owns 6,152 shares of the semiconductor company’s stock worth $788,000 after buying an additional 326 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of MaxLinear in the 2nd quarter valued at about $47,000. Global Retirement Partners LLC bought a new position in shares of MaxLinear during the 2nd quarter valued at approximately $56,000. Finally, Captrust Financial Advisors boosted its stake in shares of MaxLinear by 4.3% during the 4th quarter. Captrust Financial Advisors now owns 14,074 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 577 shares during the period. 90.79% of the stock is currently owned by institutional investors.

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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