MaxLinear (NASDAQ:MXL) Trading Down 5.7% After Insider Selling

MaxLinear, Inc. (NASDAQ:MXL - Get Free Report) shares fell 5.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $19.69 and last traded at $19.71. 126,803 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,037,065 shares. The stock had previously closed at $20.90.

Specifically, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares of the company's stock, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

MXL has been the topic of a number of research analyst reports. Craig Hallum dropped their price objective 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 restated a "hold" rating on shares of MaxLinear in a report on Thursday, October 24th. Susquehanna downgraded MaxLinear from a "positive" rating to a "neutral" rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Wells Fargo & Company assumed coverage on MaxLinear in a research note on Friday, November 22nd. They issued an "equal weight" rating and a $14.00 target price on the stock. Finally, Benchmark upped their price target on MaxLinear from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.14.

MaxLinear Stock Performance

The stock has a market capitalization of $1.65 billion, a P/E ratio of -7.19 and a beta of 1.87. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $15.53 and a two-hundred day simple moving average of $16.08.

MaxLinear (NASDAQ:MXL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.04). MaxLinear had a negative net margin of 57.37% and a negative return on equity of 19.22%. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The firm's revenue for the quarter was down 40.2% compared to the same quarter last year. On average, equities analysts forecast that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MXL. State Street Corp lifted its holdings in shares of MaxLinear by 5.1% during the third quarter. State Street Corp now owns 4,123,419 shares of the semiconductor company's stock worth $59,707,000 after buying an additional 198,791 shares in the last quarter. Bank of New York Mellon Corp raised its stake in MaxLinear by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company's stock worth $51,064,000 after purchasing an additional 128,585 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MaxLinear by 10.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,071,183 shares of the semiconductor company's stock valued at $41,714,000 after purchasing an additional 192,021 shares during the period. Geode Capital Management LLC grew its position in shares of MaxLinear by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,805,722 shares of the semiconductor company's stock worth $26,152,000 after purchasing an additional 6,420 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of MaxLinear during the second quarter worth approximately $24,184,000. Institutional investors and hedge funds own 90.79% of the company's stock.

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.