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

Principal Financial Group Inc. lowered its position in MaxLinear, Inc. (NASDAQ:MXL) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 about 0.43% of MaxLinear worth $5,240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MXL. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of MaxLinear by 5,114.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 126,863 shares of the semiconductor company’s stock worth $1,837,000 after acquiring an additional 124,430 shares during the last quarter. Quantbot Technologies LP lifted its position in MaxLinear by 111.7% during the third quarter. Quantbot Technologies LP now owns 66,363 shares of the semiconductor company’s stock valued at $961,000 after purchasing an additional 35,018 shares in the last quarter. Two Sigma Advisers LP grew its holdings in MaxLinear by 21.8% during the third quarter. Two Sigma Advisers LP now owns 694,149 shares of the semiconductor company’s stock valued at $10,051,000 after purchasing an additional 124,300 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in MaxLinear in the third quarter worth about $16,696,000. Finally, Mirabella Financial Services LLP bought a new position in shares of MaxLinear in the third quarter worth about $551,000. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Trading Down 1.1 %

Shares of MaxLinear stock opened at $19.57 on Friday. MaxLinear, Inc. has a twelve month low of $11.08 and a twelve month high of $26.59. The company has a quick ratio of 1.38, a current ratio of 1.95 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $17.01 and a 200-day moving average price of $16.32. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -7.19 and a beta of 1.87.

MaxLinear (NASDAQ:MXL) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down 40.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) EPS. Equities research analysts anticipate that MaxLinear, Inc. will post -1.66 EPS for the current fiscal year.

Insider Activity at MaxLinear

In other MaxLinear news, VP William Torgerson sold 6,100 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $93,940.00. Following the transaction, the vice president now owns 179,262 shares in the company, valued at $2,760,634.80. The trade was a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven G. Litchfield sold 32,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.35, for a total transaction of $651,200.00. Following the completion of the sale, the insider now directly owns 365,868 shares in the company, valued at approximately $7,445,413.80. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,900 shares of company stock valued at $927,278. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MXL shares. Craig Hallum cut their price objective on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research report on Thursday, October 24th. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on shares of MaxLinear in a report on Friday, November 22nd. They issued an “equal weight” rating and a $14.00 target price for the company. Finally, Benchmark raised their price target on MaxLinear from $22.00 to $28.00 and gave the company a “buy” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.14.

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.