Principal Financial Group Inc. Buys 7,588 Shares of MaxLinear, Inc. (NYSE:MXL)

Principal Financial Group Inc. boosted its stake in shares of MaxLinear, Inc. (NYSE:MXL – Get Rating) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 464,790 shares of the semiconductor company’s stock after buying an additional 7,588 shares during the quarter. Principal Financial Group Inc.’s holdings in MaxLinear were worth $15,780,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MXL. SG Americas Securities LLC boosted its holdings in shares of MaxLinear by 55.6% in the 4th quarter. SG Americas Securities LLC now owns 9,886 shares of the semiconductor company’s stock valued at $336,000 after buying an additional 3,532 shares during the last quarter. MQS Management LLC increased its stake in shares of MaxLinear by 21.4% during the 3rd quarter. MQS Management LLC now owns 10,664 shares of the semiconductor company’s stock worth $348,000 after purchasing an additional 1,881 shares during the last quarter. Cipher Capital LP bought a new stake in shares of MaxLinear in the 3rd quarter valued at about $421,000. Hillsdale Investment Management Inc. lifted its stake in MaxLinear by 27.5% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 148,000 shares of the semiconductor company’s stock valued at $4,828,000 after purchasing an additional 31,900 shares during the last quarter. Finally, EFG Asset Management North America Corp. increased its position in MaxLinear by 106.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 38,251 shares of the semiconductor company’s stock worth $1,302,000 after buying an additional 19,700 shares during the last quarter. 90.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MXL has been the subject of a number of research analyst reports. Craig Hallum reduced their price objective on shares of MaxLinear from $55.00 to $37.00 in a research report on Thursday, April 27th. Benchmark cut their price objective on shares of MaxLinear from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Northland Securities dropped their price target on shares of MaxLinear from $35.00 to $25.00 in a research report on Thursday, April 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 note on Friday, May 19th. Finally, Needham & Company LLC cut their target price on MaxLinear from $48.00 to $34.00 in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Moderate Buy” and an average target price of $40.00.

MaxLinear Price Performance

Shares of MXL stock opened at $28.46 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.98 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.28 billion, a P/E ratio of 9.56 and a beta of 1.92. MaxLinear, Inc. has a twelve month low of $23.05 and a twelve month high of $43.66. The business has a fifty day simple moving average of $30.16 and a 200 day simple moving average of $33.88.

About MaxLinear

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MaxLinear, Inc engages in the provision of communications systems-on-chip, or SoC, solutions used in broadband, mobile and wireline infrastructure, data center, and industrial and multi-market applications. Its products include cable broadband modems and gateways, wireline connectivity devices, radio frequency transceivers, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products.