Insider Selling: MaxLinear VP Unloads 3,400 Shares of Stock (MXL)
MaxLinear (NYSE:MXL) VP Madhukar Reddy sold 3,400 shares of MaxLinear stock on the open market in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $9.77, for a total transaction of $33,218.00. Following the completion of the sale, the vice president now directly owns 91,057 shares in the company, valued at approximately $889,627. The sale was disclosed in a document filed with the SEC, which is available at this link.
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 assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.50.
MaxLinear (NYSE:MXL) traded down 0.51% on Thursday, hitting $9.78. The stock had a trading volume of 125,978 shares. MaxLinear has a one year low of $7.47 and a one year high of $11.32. The stock has a 50-day moving average of $9.71 and a 200-day moving average of $9.46. The company’s market cap is $359.4 million.
MaxLinear (NYSE:MXL) last released its earnings data on Thursday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that MaxLinear will post $0.50 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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