Mercer Global Advisors Inc. ADV Makes New Investment in MaxLinear, Inc. (NYSE:MXL)

Mercer Global Advisors Inc. ADV bought a new stake in shares of MaxLinear, Inc. (NYSE:MXL – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,065 shares of the semiconductor company’s stock, valued at approximately $240,000.

Other large investors also recently modified their holdings of the company. UBS Group AG lifted its stake in MaxLinear by 190.6% in the fourth quarter. UBS Group AG now owns 6,885 shares of the semiconductor company’s stock valued at $234,000 after purchasing an additional 4,516 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of MaxLinear by 3.1% during the 4th quarter. California Public Employees Retirement System now owns 146,629 shares of the semiconductor company’s stock valued at $4,978,000 after buying an additional 4,342 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of MaxLinear by 116.6% during the 4th quarter. Nordea Investment Management AB now owns 293,644 shares of the semiconductor company’s stock worth $9,817,000 after acquiring an additional 158,050 shares during the period. Swiss National Bank increased its holdings in MaxLinear by 2.8% in the 4th quarter. Swiss National Bank now owns 179,673 shares of the semiconductor company’s stock worth $6,100,000 after acquiring an additional 4,900 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in MaxLinear by 32.1% in the 4th quarter. Russell Investments Group Ltd. now owns 32,218 shares of the semiconductor company’s stock valued at $1,094,000 after acquiring an additional 7,831 shares during the period. Hedge funds and other institutional investors own 90.26% of the company’s stock.

MaxLinear Price Performance

Shares of MaxLinear stock opened at $28.47 on Friday. The firm has a market capitalization of $2.28 billion, a PE ratio of 22.78 and a beta of 1.92. The company has a current ratio of 1.98, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. MaxLinear, Inc. has a 12 month low of $23.05 and a 12 month high of $43.66. The business’s 50-day moving average price is $29.94 and its 200-day moving average price is $33.80.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Craig Hallum dropped their price target on shares of MaxLinear from $55.00 to $37.00 in a research note on Thursday, April 27th. StockNews.com initiated coverage on MaxLinear in a report on Thursday, May 18th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on MaxLinear from $48.00 to $40.00 in a research note on Thursday, April 27th. Needham & Company LLC cut their target price on MaxLinear from $48.00 to $34.00 in a research note on Thursday, April 27th. Finally, Loop Capital reduced their target price on MaxLinear from $60.00 to $40.00 in a report on Monday, May 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.00.

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.