MaxLinear, Inc. (NYSE:MXL) insider Steven G. Litchfield bought 11,105 shares of the company’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost of $22.46 per share, with a total value of $249,418.30. Following the completion of the acquisition, the insider now owns 55,688 shares of the company’s stock, valued at approximately $1,250,752.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
MaxLinear stock traded up $0.10 during mid-day trading on Monday, reaching $22.38. The company had a trading volume of 793,800 shares, compared to its average volume of 469,588. MaxLinear, Inc. has a 1 year low of $14.87 and a 1 year high of $28.70. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.58 and a quick ratio of 1.94. The company has a market capitalization of $1.60 billion, a P/E ratio of 28.69, a P/E/G ratio of 4.19 and a beta of 1.33. The stock’s 50-day simple moving average is $21.08 and its 200-day simple moving average is $23.41.
MaxLinear (NYSE:MXL) last released its quarterly earnings results on Thursday, July 25th. The semiconductor company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $82.50 million for the quarter, compared to analyst estimates of $82.58 million. MaxLinear had a negative net margin of 6.09% and a positive return on equity of 7.16%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share. On average, equities analysts forecast that MaxLinear, Inc. will post 0.43 EPS for the current fiscal year.
MXL has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of MaxLinear from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. ValuEngine cut shares of MaxLinear from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Roth Capital dropped their target price on shares of MaxLinear from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Finally, Deutsche Bank set a $25.00 target price on shares of MaxLinear and gave the company a “hold” rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.80.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of MaxLinear by 11.4% in the second quarter. BlackRock Inc. now owns 10,233,194 shares of the semiconductor company’s stock valued at $239,866,000 after purchasing an additional 1,049,438 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MaxLinear by 1.6% in the second quarter. Vanguard Group Inc. now owns 6,845,986 shares of the semiconductor company’s stock valued at $160,471,000 after purchasing an additional 107,186 shares during the last quarter. Primecap Management Co. CA grew its position in shares of MaxLinear by 2.1% in the first quarter. Primecap Management Co. CA now owns 4,901,334 shares of the semiconductor company’s stock valued at $125,131,000 after purchasing an additional 99,190 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MaxLinear by 0.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,688,078 shares of the semiconductor company’s stock valued at $86,449,000 after purchasing an additional 34,198 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of MaxLinear by 1.3% in the first quarter. William Blair Investment Management LLC now owns 3,111,276 shares of the semiconductor company’s stock valued at $79,431,000 after purchasing an additional 40,270 shares during the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
MaxLinear Company Profile
MaxLinear, Inc provides radio-frequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. The company offers range of semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products.
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