MaxLinear CEO Kishore Seendripu Sells 25,000 Shares (MXL)
MaxLinear (NYSE:MXL) CEO Kishore Seendripu sold 25,000 shares of the stock on the open market in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $8.78, for a total transaction of $219,500.00. Following the transaction, the chief executive officer now directly owns 62,847 shares of the company’s stock, valued at approximately $551,797. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Needham & Company LLC raised their price target on shares of MaxLinear from $12.00 to $14.00 in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MaxLinear currently has an average rating of “Buy” and an average price target of $11.00.
Shares of MaxLinear (NYSE:MXL) traded up 1.36% during mid-day trading on Wednesday, hitting $8.92. 139,233 shares of the company’s stock traded hands. MaxLinear has a 52-week low of $5.50 and a 52-week high of $11.32. The stock’s 50-day moving average is $9.43 and its 200-day moving average is $9.2. The company’s market cap is $315.3 million.
MaxLinear (NYSE:MXL) last announced its earnings results on Thursday, February 6th. The company reported $0.06 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.02 earnings per share. MaxLinear’s revenue was up 27.4% compared to the same quarter last year. Analysts expect that MaxLinear will post $0.43 EPS for the current fiscal year.
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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