Principal Financial Group Inc. Reduces Stake in MaxLinear, Inc. (NASDAQ:MXL)

Principal Financial Group Inc. cut its holdings in shares of MaxLinear, Inc. (NASDAQ:MXL) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 361,884 shares of the semiconductor company’s stock after selling 14,049 shares during the period. Principal Financial Group Inc. owned 0.43% of MaxLinear worth $5,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MXL. Simplicity Wealth LLC boosted its position in shares of MaxLinear by 3.1% during the second quarter. Simplicity Wealth LLC now owns 19,283 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 579 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of MaxLinear by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,304 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 1,061 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in MaxLinear by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 38,000 shares of the semiconductor company’s stock valued at $765,000 after acquiring an additional 1,100 shares during the period. Nisa Investment Advisors LLC boosted its stake in MaxLinear by 20.3% during the third quarter. Nisa Investment Advisors LLC now owns 7,761 shares of the semiconductor company’s stock worth $112,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in MaxLinear in the second quarter worth about $30,000. Institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Up 1.4 %

Shares of MXL stock opened at $14.69 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.95. The stock has a fifty day simple moving average of $14.34 and a two-hundred day simple moving average of $16.30. The firm has a market capitalization of $1.24 billion, a PE ratio of -5.40 and a beta of 1.85. MaxLinear, Inc. has a 52-week low of $11.08 and a 52-week high of $26.59.

MaxLinear (NASDAQ:MXL) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $80.40 million. MaxLinear had a negative return on equity of 19.22% and a negative net margin of 57.37%. The company’s revenue for the quarter was down 40.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) earnings per share. On average, analysts predict that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP William Torgerson sold 6,100 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $93,940.00. Following the sale, the vice president now owns 179,262 shares in the company, valued at approximately $2,760,634.80. This represents a 3.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MXL. Craig Hallum cut their target price on MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Northland Securities decreased their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Benchmark reiterated a “buy” rating and set a $22.00 price target on shares of MaxLinear in a report on Thursday, October 24th. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.86.

MaxLinear Company 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.