Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information and Holders
Our common stock is traded on the Nasdaq Stock Market LLC, or the Nasdaq, under the symbol MXL.
According to our transfer agent, as of January 25, 2023, there were 52 record holders of our common stock. We believe we have approximately 42,000 beneficial holders of our common stock.
Dividend Policy
We have never declared or paid cash dividends on our common stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any dividends on our common stock in the foreseeable future. Any future determination to declare dividends will be made at the discretion of our Board of Directors and will depend on our financial condition, operating results, capital requirements, general business conditions and other factors that our Board of Directors may deem relevant.
Stock Performance Graph
Notwithstanding any statement to the contrary in any of our previous or future filings with the SEC, the following information relating to the price performance of our common stock shall not be deemed “filed” with the SEC or “Soliciting Material” under the Exchange Act, or subject to Regulation 14A or 14C, or to liabilities of Section 18 of the Exchange Act except to the extent we specifically request that such information be treated as soliciting material or to the extent we specifically incorporate this information by reference.
The graph below compares the cumulative total stockholder return on our common stock with the cumulative total return on The Nasdaq Composite Index, The NYSE Composite Index and The Philadelphia Semiconductor Index. The period shown commences on December 31, 2017 and ends on December 31, 2022, the end of our last fiscal year. The graph assumes an investment of $100 on December 31, 2017, and the reinvestment of any dividends.
The comparisons in the graph below are required by the Securities and Exchange Commission and are not intended to forecast or be indicative of possible future performance of our common stock.
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Recent Sales of Unregistered Securities
None.
Recent Repurchases of Equity Securities
Period Total Number of Shares Repurchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (1)
Fiscal 2022
January 1, 2022 through January 31, 2022 128,500 $ 61.67 128,500 $ 68,539,400
February 1, 2022 through February 28, 2022 116,864 $ 60.81 116,864 $ 61,433,421
March 1, 2022 through March 31, 2022 195,085 $ 57.69 195,085 $ 50,179,597
April 1, 2022 through April 30, 2022 40,000 $ 47.97 40,000 $ 48,260,767
May 1, 2022 through May 31, 2022 42,000 $ 41.46 42,000 $ 46,519,356
June 1, 2022 through June 30, 2022 42,000 $ 36.91 42,000 $ 44,968,957
July 1, 2022 through July 31, 2022 — $ — — $ 44,968,957
August 1, 2022 through August 31, 2022 — $ — — $ 44,968,957
September 1, 2022 through September 30, 2022 — $ — — $ 44,968,957
October 1, 2022 through October 31, 2022 — $ — — $ 44,968,957
November 1, 2022 through November 30, 2022 — $ — — $ 44,968,957
December 1, 2022 through December 31, 2022 — $ — — $ 44,968,957
Total 564,449 564,449
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(1) On February 24, 2021, the Company publicly announced that its board of directors authorized a plan to repurchase up to $100 million of the Company’s common stock over a period ending February 16, 2024. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, market conditions, and legal requirements. Any purchases will be funded from available working capital and may be effected through open market purchases, block transactions, and privately negotiated transactions. The share repurchase program does not obligate the Company to make any repurchases and may be modified, suspended, or terminated by the Company at any time without prior notice. The share repurchase program has been temporarily suspended since July 2022 due to our pending merger with Silicon Motion.
ITEM 6. [RESERVED]