MaxLinear, Inc (NASDAQ:MXL) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of MaxLinear, Inc (NASDAQ:MXL) by 2.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 384,677 shares of the semiconductor company’s stock after acquiring an additional 9,955 shares during the quarter. Principal Financial Group Inc. owned about 0.45% of MaxLinear worth $4,178,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of MaxLinear during the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. boosted its stake in shares of MaxLinear by 95.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,891 shares of the semiconductor company’s stock worth $77,000 after buying an additional 1,900 shares during the last quarter. AlphaQuest LLC grew its holdings in MaxLinear by 13,836.7% during the fourth quarter. AlphaQuest LLC now owns 4,181 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 4,151 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of MaxLinear in the first quarter valued at approximately $266,000. Finally, First Trust Advisors LP acquired a new position in MaxLinear during the fourth quarter worth about $280,000. Institutional investors and hedge funds own 90.79% of the company’s stock.

MaxLinear Stock Up 6.9%

MaxLinear stock opened at $15.59 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 1.63. The stock’s fifty day moving average is $13.05 and its two-hundred day moving average is $14.25. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -5.93 and a beta of 1.72. MaxLinear, Inc has a fifty-two week low of $8.35 and a fifty-two week high of $26.13.

MaxLinear (NASDAQ:MXL) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $95.93 million during the quarter, compared to the consensus estimate of $95.32 million. MaxLinear had a negative net margin of 61.63% and a negative return on equity of 21.86%. MaxLinear’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) earnings per share. Analysts predict that MaxLinear, Inc will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MXL has been the topic of a number of analyst reports. Wells Fargo & Company set a $13.00 price objective on shares of MaxLinear and gave the stock an “equal weight” rating in a report on Wednesday. Roth Capital set a $11.00 price target on MaxLinear and gave the company a “neutral” rating in a research report on Thursday, April 24th. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of MaxLinear in a report on Thursday, April 24th. Loop Capital decreased their price objective on MaxLinear from $18.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, April 29th. Finally, Stifel Nicolaus decreased their price target on shares of MaxLinear from $26.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.19.

Insider Activity at MaxLinear

In other MaxLinear news, Director Ted L. Tewksbury III sold 6,071 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $10.40, for a total value of $63,138.40. Following the completion of the sale, the director owned 74,995 shares of the company’s stock, valued at $779,948. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is currently owned by company insiders.

MaxLinear Profile

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.