Connie Kwong Sells 35,000 Shares of MaxLinear (NASDAQ:MXL) Stock

Key Points

• Insider sale: MaxLinear insider Connie Kwong sold 35,000 shares on May 8 at an average price of $96.96, totaling about $3.39 million. After the sale, Kwong still owned 13,947 shares, a 71.51% reduction in the stake.
• Stock performance: MXL shares jumped $17.46 to $99.83 in Friday trading, with volume above average. The stock is now near its 52-week high of $101.30.
• Business and analyst outlook: MaxLinear recently beat quarterly EPS estimates and posted 43% year-over-year revenue growth. Analysts remain mixed overall, with a consensus rating of Hold and an average price target of $44.20, though several firms recently raised targets and upgraded the stock.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) insider Connie Kwong sold 35,000 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $96.96, for a total value of $3,393,600.00. Following the completion of the transaction, the insider owned 13,947 shares of the company's stock, valued at $1,352,301.12. The trade was a 71.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MaxLinear Price Performance

MXL stock traded up $17.46 during midday trading on Friday, hitting $99.83. The company's stock had a trading volume of 7,776,817 shares, compared to its average volume of 6,869,652. MaxLinear, Inc has a 12 month low of $10.96 and a 12 month high of $101.30. The company has a quick ratio of 1.12, a current ratio of 1.70 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of -65.68 and a beta of 3.95. The company has a 50 day moving average of $27.43 and a two-hundred day moving average of $20.85.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. MaxLinear had a negative return on equity of 2.33% and a negative net margin of 25.96%.The business had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm's revenue for the quarter was up 43.0% compared to the same quarter last year. On average, analysts expect that MaxLinear, Inc will post 0.52 EPS for the current year.

Institutional Trading of MaxLinear

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in MaxLinear by 161.7% during the 4th quarter. Larson Financial Group LLC now owns 1,416 shares of the semiconductor company's stock valued at $25,000 after buying an additional 875 shares during the period. Smartleaf Asset Management LLC raised its holdings in MaxLinear by 103.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,431 shares of the semiconductor company's stock valued at $25,000 after buying an additional 726 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in MaxLinear in the fourth quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in MaxLinear in the fourth quarter worth $27,000. Finally, EverSource Wealth Advisors LLC increased its stake in MaxLinear by 97.0% in the third quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the semiconductor company's stock worth $34,000 after purchasing an additional 1,039 shares during the period. Hedge funds and other institutional investors own 90.79% of the company's stock.

Wall Street Analyst Weigh In

MXL has been the subject of a number of research reports. Wells Fargo & Company increased their target price on MaxLinear from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. Needham & Company LLC upgraded MaxLinear from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Benchmark increased their target price on MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, January 16th. Roth Mkm upgraded MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Friday, April 24th. Finally, Stifel Nicolaus increased their target price on MaxLinear from $34.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $44.20.

About MaxLinear

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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