MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson Sells 6,100 Shares

MaxLinear, Inc. (NASDAQ:MXL) VP William Torgerson sold 6,100 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, the vice president now directly owns 179,262 shares of the company’s stock, valued at $2,760,634.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

MaxLinear Stock Down 4.7 %

Shares of MXL stock traded down $0.74 during trading on Wednesday, hitting $14.88. 816,028 shares of the company were exchanged, compared to its average volume of 1,005,913. 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 firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.47 and a beta of 1.85. The business’s 50-day simple moving average is $14.25 and its 200 day simple moving average is $16.49. MaxLinear, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59.

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

Hedge Funds Weigh In On MaxLinear

A number of large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in MaxLinear during the first quarter worth approximately $27,000. Innealta Capital LLC purchased a new stake in shares of MaxLinear during the second quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in MaxLinear in the 2nd quarter worth $31,000. Truvestments Capital LLC bought a new position in MaxLinear in the 3rd quarter worth approximately $42,000. Finally, GAMMA Investing LLC grew its stake in shares of MaxLinear by 151.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,472 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 2,093 shares in the last quarter. 90.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MXL has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $22.00 target price on shares of MaxLinear in a report on Thursday, October 24th. Northland Securities lowered their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Craig Hallum decreased their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Finally, Susquehanna downgraded MaxLinear from a “positive” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a research note on Tuesday, October 1st. 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 MarketBeat, the company has an average rating of “Hold” and an average price target of $23.86.

MaxLinear Company Profile

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.