Principal Financial Group Inc. Sells 22,919 Shares of MaxLinear, Inc. (NYSE:MXL)

Principal Financial Group Inc. trimmed its position in shares of MaxLinear, Inc. (NYSE:MXL) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 429,906 shares of the semiconductor company’s stock after selling 22,919 shares during the period. Principal Financial Group Inc. owned about 0.53% of MaxLinear worth $13,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of MaxLinear by 3,223.1% during the second quarter. Victory Capital Management Inc. now owns 2,161,342 shares of the semiconductor company’s stock valued at $68,212,000 after buying an additional 2,096,303 shares during the period. BlackRock Inc. increased its position in shares of MaxLinear by 6.8% during the first quarter. BlackRock Inc. now owns 13,399,917 shares of the semiconductor company’s stock valued at $471,811,000 after buying an additional 858,544 shares during the period. Norges Bank purchased a new position in shares of MaxLinear during the fourth quarter valued at about $24,371,000. Invesco Ltd. increased its position in shares of MaxLinear by 55.8% during the first quarter. Invesco Ltd. now owns 1,365,980 shares of the semiconductor company’s stock valued at $79,705,000 after buying an additional 489,167 shares during the period. Finally, State Street Corp increased its position in shares of MaxLinear by 13.0% during the first quarter. State Street Corp now owns 3,674,810 shares of the semiconductor company’s stock valued at $129,390,000 after buying an additional 421,769 shares during the period. 87.65% of the stock is owned by institutional investors.

MaxLinear Stock Up 0.2 %

Shares of MaxLinear stock opened at $17.60 on Friday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -439.89 and a beta of 1.95. The company’s 50 day moving average is $19.77 and its 200 day moving average is $24.63. MaxLinear, Inc. has a twelve month low of $13.43 and a twelve month high of $43.66. The company has a quick ratio of 1.69, a current ratio of 2.18 and a debt-to-equity ratio of 0.17.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Wednesday, October 25th. The semiconductor company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.23. The company had revenue of $135.53 million for the quarter, compared to the consensus estimate of $140.11 million. MaxLinear had a negative net margin of 0.42% and a positive return on equity of 16.19%. Research analysts anticipate that MaxLinear, Inc. will post 0.49 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on MXL shares. Benchmark reduced their price target on shares of MaxLinear from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. TheStreet cut shares of MaxLinear from a “c” rating to a “d+” rating in a report on Thursday, October 26th. Needham & Company LLC cut their price objective on shares of MaxLinear from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Craig Hallum cut shares of MaxLinear from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a report on Thursday, July 27th. Finally, Roth Capital cut shares of MaxLinear from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MaxLinear has an average rating of “Hold” and a consensus target price of $26.36.

MaxLinear Profile

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.