Insider Selling: MaxLinear (NASDAQ:MXL) Insider Sells 15,050 Shares of Stock

Key Points

• Insider sale: MaxLinear director Connie Kwong sold 15,050 shares on April 27 at an average of $51.29 for proceeds of about $771,915, reducing her stake by 22.09% to 53,065 shares (SEC filing).
• Mixed fundamentals: The company beat Q1 EPS estimates ($0.22 vs. $0.18) with revenue up 43% year-over-year to $137.19M, but remains unprofitable with a negative net margin (~25.96%) and negative return on equity.
• Market and analyst backdrop: Shares traded near $52 with heavy volume and a market cap of ~$4.5B; institutional investors own ~90.8% of the stock and analysts have an average "Hold" rating with a consensus price target of $38.20.

MaxLinear, Inc (NASDAQ:MXL - Get Free Report) insider Connie Kwong sold 15,050 shares of the business's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $51.29, for a total transaction of $771,914.50. Following the completion of the sale, the insider owned 53,065 shares of the company's stock, valued at approximately $2,721,703.85. The trade was a 22.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

MaxLinear Trading Up 0.7%

MaxLinear stock traded up $0.36 during trading on Tuesday, reaching $52.01. The company had a trading volume of 5,639,643 shares, compared to its average volume of 1,992,757. MaxLinear, Inc has a 12-month low of $9.52 and a 12-month high of $63.52. The stock's 50 day moving average price is $20.94 and its two-hundred day moving average price is $18.48. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -34.22 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.70.

MaxLinear (NASDAQ:MXL - Get Free Report) last released its earnings results on Thursday, April 23rd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.04. MaxLinear had a negative net margin of 25.96% and a negative return on equity of 2.33%. The firm had revenue of $137.19 million during the quarter, compared to the consensus estimate of $137.15 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. MaxLinear's revenue was up 43.0% compared to the same quarter last year. As a group, equities analysts expect that MaxLinear, Inc will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MaxLinear

Several institutional investors have recently bought and sold shares of MXL. Royal Bank of Canada grew its stake in MaxLinear by 3.1% during the first quarter. Royal Bank of Canada now owns 72,664 shares of the semiconductor company's stock worth $789,000 after buying an additional 2,204 shares during the period. AQR Capital Management LLC grew its stake in MaxLinear by 56.0% during the first quarter. AQR Capital Management LLC now owns 296,297 shares of the semiconductor company's stock worth $3,218,000 after buying an additional 106,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MaxLinear by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,437 shares of the semiconductor company's stock worth $515,000 after buying an additional 2,043 shares during the period. Goldman Sachs Group Inc. grew its stake in MaxLinear by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 535,230 shares of the semiconductor company's stock worth $5,813,000 after buying an additional 2,039 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MaxLinear by 23.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,362 shares of the semiconductor company's stock worth $1,980,000 after buying an additional 35,152 shares during the period. 90.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of MaxLinear from $34.00 to $49.00 and gave the company a "buy" rating in a report on Friday. Susquehanna restated a "neutral" rating and issued a $30.00 target price on shares of MaxLinear in a report on Monday, April 20th. Benchmark boosted their target price on shares of MaxLinear from $25.00 to $28.00 and gave the company a "buy" rating in a report on Friday, January 16th. Roth Mkm upgraded shares of MaxLinear from a "neutral" rating to a "buy" rating and set a $60.00 target price for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $40.00 target price on shares of MaxLinear in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, MaxLinear has an average rating of "Hold" and a consensus price target of $38.20.

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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