MaxLinear CEO Kishore Seendripu Sells 25,000 Shares (MXL)
MaxLinear (NYSE:MXL) CEO Kishore Seendripu sold 25,000 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $9.65, for a total value of $241,250.00. Following the completion of the transaction, the chief executive officer now directly owns 125,833 shares in the company, valued at approximately $1,214,288. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of MaxLinear (NYSE:MXL) traded down 0.83% on Friday, hitting $9.57. The stock had a trading volume of 125,701 shares. MaxLinear has a 1-year low of $7.47 and a 1-year high of $11.32. The stock’s 50-day moving average is $9.74 and its 200-day moving average is $9.48. The company’s market cap is $351.6 million.
MaxLinear (NYSE:MXL) last announced its earnings results on Thursday, July 31st. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.02. The company had revenue of $35.59 million for the quarter, compared to the consensus estimate of $35.23 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts predict that MaxLinear will post $0.50 earnings per share for the current fiscal year.
Separately, analysts at Deutsche Bank raised their price target on shares of MaxLinear from $12.00 to $13.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. MaxLinear has an average rating of “Buy” and an average target price of $11.50.
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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