MaxLinear VP Sells $70,963 in Stock (MXL)
MaxLinear (NYSE:MXL) VP Madhukar Reddy unloaded 7,033 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $10.09, for a total value of $70,962.97. Following the completion of the sale, the vice president now directly owns 49,614 shares of the company’s stock, valued at approximately $500,605. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of MaxLinear (NYSE:MXL) traded up 5.20% on Friday, hitting $10.12. The stock had a trading volume of 62,202 shares. MaxLinear has a 1-year low of $5.05 and a 1-year high of $11.32. The stock’s 50-day moving average is $10.33 and its 200-day moving average is $8.79. The company’s market cap is $353.6 million.
MaxLinear (NYSE:MXL) last posted its quarterly 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. Analysts expect that MaxLinear will post $0.43 EPS 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus 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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