Principal Financial Group Inc. Lowers Position in MaxLinear, Inc. (NYSE:MXL)

Principal Financial Group Inc. cut its stake in MaxLinear, Inc. (NYSE:MXLGet Rating) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 474,635 shares of the semiconductor company’s stock after selling 4,433 shares during the quarter. Principal Financial Group Inc.’s holdings in MaxLinear were worth $16,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Inspire Investing LLC raised its stake in shares of MaxLinear by 56.0% in the second quarter. Inspire Investing LLC now owns 6,248 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 2,242 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of MaxLinear by 28.2% in the second quarter. Lazard Asset Management LLC now owns 48,198 shares of the semiconductor company’s stock worth $1,637,000 after purchasing an additional 10,609 shares during the last quarter. Duality Advisers LP purchased a new stake in shares of MaxLinear in the second quarter worth approximately $473,000. Texas Permanent School Fund raised its stake in shares of MaxLinear by 2.7% in the second quarter. Texas Permanent School Fund now owns 51,438 shares of the semiconductor company’s stock worth $1,748,000 after purchasing an additional 1,356 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of MaxLinear during the second quarter valued at approximately $300,000. 90.26% of the stock is owned by hedge funds and other institutional investors.

MaxLinear Price Performance

NYSE:MXL opened at $36.16 on Thursday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 0.56 and a beta of 1.84. MaxLinear, Inc. has a 52-week low of $29.27 and a 52-week high of $77.89. The stock has a fifty day moving average of $33.27 and a 200 day moving average of $36.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 1.60.

Analyst Ratings Changes

A number of analysts recently commented on MXL shares. Needham & Company LLC decreased their price target on MaxLinear from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Benchmark decreased their price target on MaxLinear from $62.00 to $50.00 in a research report on Wednesday, October 26th. Susquehanna decreased their price target on MaxLinear from $45.00 to $42.00 in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft decreased their price target on MaxLinear from $50.00 to $48.00 in a research report on Wednesday, October 26th. Finally, Craig Hallum decreased their price target on MaxLinear from $65.00 to $55.00 in a research report on Wednesday, October 26th. Six analysts have rated the stock with a buy rating, According to MarketBeat, MaxLinear currently has a consensus rating of “Buy” and a consensus price target of $48.13.

About MaxLinear

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MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) 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 RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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Institutional Ownership by Quarter for MaxLinear (NYSE:MXL)

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