Russell Investments Group Ltd. Sells 28,602 Shares of MaxLinear, Inc. (NASDAQ:MXL)

Russell Investments Group Ltd. lessened its stake in shares of MaxLinear, Inc. (NASDAQ:MXL - Free Report) by 29.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 69,545 shares of the semiconductor company's stock after selling 28,602 shares during the period. Russell Investments Group Ltd. owned about 0.08% of MaxLinear worth $1,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hel Ved Capital Management Ltd purchased a new position in MaxLinear during the 4th quarter worth approximately $3,317,000. ExodusPoint Capital Management LP purchased a new position in shares of MaxLinear during the fourth quarter valued at $1,859,000. Trexquant Investment LP acquired a new position in MaxLinear during the fourth quarter valued at $306,000. Headlands Technologies LLC purchased a new stake in MaxLinear in the 4th quarter worth about $377,000. Finally, Wellington Management Group LLP acquired a new stake in MaxLinear during the 4th quarter worth about $3,709,000. Institutional investors and hedge funds own 90.79% of the company's stock.

MaxLinear Stock Up 0.7 %

Shares of NASDAQ:MXL traded up $0.07 on Friday, reaching $9.73. The company had a trading volume of 479,441 shares, compared to its average volume of 1,396,134. The stock has a market capitalization of $823.15 million, a P/E ratio of -3.32 and a beta of 1.82. The stock has a 50-day moving average price of $12.24 and a 200 day moving average price of $15.76. MaxLinear, Inc. has a twelve month low of $8.35 and a twelve month high of $26.59. The company has a quick ratio of 1.28, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.

MaxLinear (NASDAQ:MXL - Get Free Report) last posted its earnings results on Wednesday, January 29th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.14). MaxLinear had a negative return on equity of 21.94% and a negative net margin of 68.01%. On average, equities analysts expect that MaxLinear, Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Capital set a $11.00 price target on shares of MaxLinear and gave the stock a "neutral" rating in a research report on Thursday. Northland Securities increased their target price on shares of MaxLinear from $25.00 to $27.50 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Benchmark restated a "buy" rating and set a $20.00 price target on shares of MaxLinear in a report on Thursday. Stifel Nicolaus cut their price objective on MaxLinear from $26.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Susquehanna lowered their target price on MaxLinear from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.94.

About MaxLinear

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.