Russell Investments Group Ltd. Buys 4,505 Shares of MaxLinear, Inc. (NYSE:MXL)

Russell Investments Group Ltd. raised its stake in shares of MaxLinear, Inc. (NYSE:MXL) by 14.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,723 shares of the semiconductor company’s stock after buying an additional 4,505 shares during the period. Russell Investments Group Ltd.’s holdings in MaxLinear were worth $1,293,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in MaxLinear by 5.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,854 shares of the semiconductor company’s stock valued at $1,081,000 after purchasing an additional 1,683 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in MaxLinear by 33.7% during the first quarter. Texas Permanent School Fund Corp now owns 64,970 shares of the semiconductor company’s stock valued at $2,288,000 after acquiring an additional 16,377 shares during the period. Barclays PLC boosted its holdings in MaxLinear by 46.1% during the first quarter. Barclays PLC now owns 88,182 shares of the semiconductor company’s stock valued at $3,105,000 after acquiring an additional 27,836 shares during the period. Hiddenite Capital Partners LP bought a new stake in MaxLinear during the first quarter valued at about $1,412,000. Finally, SG Americas Securities LLC lifted its holdings in shares of MaxLinear by 55.6% during the fourth quarter. SG Americas Securities LLC now owns 9,886 shares of the semiconductor company’s stock worth $336,000 after buying an additional 3,532 shares during the last quarter. 87.65% of the stock is currently owned by institutional investors.

MaxLinear Stock Performance

Shares of NYSE:MXL opened at $22.90 on Wednesday. The business’s fifty day moving average price is $27.54 and its two-hundred day moving average price is $29.89. MaxLinear, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $43.66. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 28.63 and a beta of 1.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 1.77.

MaxLinear (NYSE:MXL) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The firm had revenue of $183.94 million for the quarter, compared to analyst estimates of $190.03 million. MaxLinear had a net margin of 6.41% and a return on equity of 26.91%. As a group, analysts predict that MaxLinear, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MXL. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of MaxLinear in a report on Thursday, July 27th. StockNews.com initiated coverage on MaxLinear in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Craig Hallum downgraded MaxLinear from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Thursday, July 27th. BNP Paribas upgraded MaxLinear from an “underperform” rating to a “neutral” rating and set a $30.00 price objective on the stock in a research report on Friday, May 19th. Finally, Wells Fargo & Company reduced their target price on MaxLinear from $50.00 to $45.00 in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, MaxLinear currently has an average rating of “Moderate Buy” and an average price target of $35.30.

About MaxLinear

MaxLinear, Inc engages in the provision of communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including radiofrequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.