Russell Investments Group Ltd. Trims Holdings in MaxLinear, Inc. (NASDAQ:MXL)

Russell Investments Group Ltd. lowered its position in shares of MaxLinear, Inc. (NASDAQ:MXL) by 29.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,545 shares of the semiconductor company’s stock after selling 28,602 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of MaxLinear worth $1,376,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in shares of MaxLinear by 339.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,250,769 shares of the semiconductor company’s stock valued at $24,740,000 after buying an additional 966,468 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MaxLinear by 44.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 935,739 shares of the semiconductor company’s stock valued at $13,550,000 after purchasing an additional 288,607 shares during the last quarter. Barclays PLC grew its position in shares of MaxLinear by 47.6% during the third quarter. Barclays PLC now owns 335,804 shares of the semiconductor company’s stock valued at $4,860,000 after purchasing an additional 108,346 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of MaxLinear by 10.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,857 shares of the semiconductor company’s stock worth $25,098,000 after purchasing an additional 115,867 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of MaxLinear by 19.1% in the fourth quarter. GAMMA Investing LLC now owns 4,134 shares of the semiconductor company’s stock worth $82,000 after buying an additional 662 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Stock Performance

Shares of MaxLinear stock opened at $10.22 on Monday. The firm has a market capitalization of $864.96 million, a P/E ratio of -3.49 and a beta of 1.82. MaxLinear, Inc. has a 52 week low of $8.35 and a 52 week high of $26.59. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $12.71 and a 200 day moving average price of $15.88.

MaxLinear (NASDAQ:MXL) last released its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative net margin of 68.01% and a negative return on equity of 21.94%. Sell-side analysts expect that MaxLinear, Inc. will post -0.37 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Northland Securities upped their price objective on MaxLinear from $25.00 to $27.50 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research note on Thursday, January 30th. Wells Fargo & Company raised their price target on MaxLinear from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Stifel Nicolaus reduced their price target on MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Benchmark decreased their target price on MaxLinear from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.36.

About MaxLinear

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.