Russell Investments Group Ltd. Grows Stock Position in MaxLinear, Inc. (NYSE:MXL)

Russell Investments Group Ltd. increased its position in shares of MaxLinear, Inc. (NYSE:MXL – Get Rating) by 32.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,218 shares of the semiconductor company’s stock after buying an additional 7,831 shares during the quarter. Russell Investments Group Ltd.’s holdings in MaxLinear were worth $1,094,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in MaxLinear by 55.8% in the 1st quarter. Invesco Ltd. now owns 1,365,980 shares of the semiconductor company’s stock valued at $79,705,000 after purchasing an additional 489,167 shares during the last quarter. BlackRock Inc. grew its stake in shares of MaxLinear by 2.8% in the first quarter. BlackRock Inc. now owns 11,193,165 shares of the semiconductor company’s stock worth $653,123,000 after acquiring an additional 300,163 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of MaxLinear by 3.7% in the first quarter. Vanguard Group Inc. now owns 8,096,877 shares of the semiconductor company’s stock worth $472,452,000 after acquiring an additional 289,146 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MaxLinear by 11.9% in the third quarter. Bank of New York Mellon Corp now owns 1,833,556 shares of the semiconductor company’s stock worth $59,811,000 after acquiring an additional 194,477 shares in the last quarter. Finally, State Street Corp grew its stake in shares of MaxLinear by 5.7% in the third quarter. State Street Corp now owns 3,214,893 shares of the semiconductor company’s stock worth $104,870,000 after acquiring an additional 173,826 shares in the last quarter. Hedge funds and other institutional investors own 90.26% of the company’s stock.

MaxLinear Trading Up 3.9 %

Shares of MaxLinear stock opened at $28.47 on Friday. MaxLinear, Inc. has a 52-week low of $23.05 and a 52-week high of $43.66. 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’s 50-day simple moving average is $29.94 and its 200-day simple moving average is $33.80. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 22.78 and a beta of 1.92.

Wall Street Analyst Weigh In

Several research firms have commented on MXL. Craig Hallum dropped their price target on shares of MaxLinear from $55.00 to $37.00 in a research note on Thursday, April 27th. Needham & Company LLC decreased their price objective on shares of MaxLinear from $48.00 to $34.00 in a research report on Thursday, April 27th. Loop Capital decreased their price objective on shares of MaxLinear from $60.00 to $40.00 in a research report on Monday, May 1st. Northland Securities decreased their price objective on shares of MaxLinear from $35.00 to $25.00 in a research report on Thursday, April 27th. Finally, Susquehanna decreased their price objective on shares of MaxLinear from $45.00 to $40.00 in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

MaxLinear Profile

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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.