MaxLinear, Inc. (NASDAQ:MXL) VP Sells $93,940.00 in Stock
Recently, MaxLinear, Inc. (NASDAQ:MXL) saw its Vice President, William Torgerson, sell 6,100 shares of the company’s stock. This transaction, dated Friday, November 8th, occurred at an average price of $15.40 per share, amounting to a total of $93,940.00. Post-sale, the vice president retains ownership of 179,262 shares, valued at approximately $2,760,634.80. This transaction marks a slight reduction in Torgerson’s stake in MaxLinear.
On Thursday, shares of MaxLinear opened at $14.88. The company’s financial health is reflected in its quick ratio of 1.38, a current ratio of 1.95, and a debt-to-equity ratio of 0.22. Over the past year, MaxLinear’s stock has witnessed fluctuations with a 12-month low of $11.08 and a high of $26.59. It currently holds a market cap of $1.26 billion, a price-to-earnings ratio of -5.47, and a beta of 1.85. Furthermore, the company has a fifty-day simple moving average of $14.25 and a 200-day simple moving average of $16.49.
The semiconductor company last shared its earnings data on Wednesday, October 23rd. MaxLinear reported a quarterly loss per share (EPS) of ($0.36), falling short of analysts’ expectations who predicted an EPS of ($0.32). The company reported revenue of $81.10 million for the quarter, exceeding analysts’ expectations of $80.40 million. Despite this, MaxLinear faced a negative net margin of 57.37% and a negative return on equity of 19.22%. Compared to the same quarter last year, the company’s quarterly revenue decreased by 40.2%. At that time, MaxLinear posted a loss per share of ($0.02). Analysts anticipate that MaxLinear, Inc. will have an EPS of -1.66 for the current year.
Institutional investors and hedge funds are actively adjusting their positions with the company. In the first quarter, Headlands Technologies LLC acquired new holdings in MaxLinear valued at around $27,000. Innealta Capital LLC also created a new position in the company during the second quarter, valued at approximately $30,000. Further, International Assets Investment Management LLC entered similarly around the same timeframe with a valuation of $31,000. Truvestments Capital LLC purchased a new stake during the third quarter worth about $42,000, while GAMMA Investing LLC increased their stake in MaxLinear shares by 151.8% during the third quarter. Now owning 3,472 shares valued at $50,000, they added 2,093 shares during this period. Currently, hedge funds and institutional investors own a significant 90.79% of the company’s stock.
Various equities research analysts have recently provided insights on MaxLinear. Susquehanna downgraded MaxLinear from a “positive” to “neutral” rating and reduced their stock target price from $26.00 to $15.00 in October. Meanwhile, Benchmark maintained a “buy” rating with a $22.00 price objective in late October. In July, Stifel Nicolaus raised their target price for MaxLinear from $26.00 to $30.00, dubbing it a “buy.” On the other hand, Northland Securities lowered their price target from $30.00 to $25.00, labeling the stock as “outperform.” Needham & Company LLC reiterated a “hold” rating for MaxLinear in late October. Presently, among the equities research analysts, one has issued a sell rating, three have given a hold rating, and four have expressed a buy rating. The current average rating is “Hold” with an average target price of $23.86.
MaxLinear, Inc. specializes in providing communications systems-on-chip solutions worldwide. Their products encompass various segments of high-speed communication systems, such as radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.
