MaxLinear VP Justin Scarpulla Sells 10,000 Shares (MXL)
MaxLinear (NYSE:MXL) VP Justin Scarpulla sold 10,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $9.88, for a total transaction of $98,800.00. Following the sale, the vice president now directly owns 13,348 shares in the company, valued at approximately $131,878. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
MaxLinear (NYSE:MXL) traded up 5.20% during mid-day trading on Friday, hitting $10.12. The stock had a trading volume of 62,202 shares. MaxLinear has a one year low of $5.05 and a one year high of $11.32. The stock has a 50-day moving average of $10.33 and a 200-day moving average of $8.79. The company’s market cap is $353.6 million.
MaxLinear (NYSE:MXL) last announced its earnings results on Thursday, February 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. The company had revenue of $31.60 million for the quarter, compared to the consensus estimate of $31.96 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, analysts predict that MaxLinear will post $0.43 earnings per share for the current fiscal year.
Separately, analysts at Needham & Company raised their price target on shares of MaxLinear from $12.00 to $14.00 in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.00.
MaxLinear, Inc operates as a fabless communications Integrated Circuit company. The Company is creating solutions for wireless and wire-line applications (NYSE:MXL).
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