XPS 13 9300 Developer Edition with very weak Wifi signal on linux

I am experiencing a very weak wifi signal with my XPS 13 9300 compared to other devices. The connection is so weak that it very frequently disconnects and then reconnects (sometimes multiple times within a minute). This renders the WIFI connection extremely unreliable.

Here's the output of "iwconfig" with the laptop just one room away from the router

$ iwconfig
lo        no wireless extensions.

wlp0s20f3  IEEE 802.11  ESSID:""  
          Mode:Managed  Frequency:5.6 GHz  Access Point:    
          Bit Rate=468 Mb/s   Tx-Power=22 dBm   
          Retry short limit:7   RTS thr:off   Fragment thr:off
          Power Management:off
          Link Quality=42/70  Signal level=-68 dBm  
          Rx invalid nwid:0  Rx invalid crypt:0  Rx invalid frag:0
          Tx excessive retries:0  Invalid misc:8   Missed beacon:0

Another laptop shows a link quality of 57/70, signal level -53dBm with a Tx-Power of 15 dBm in the exact same location. My android phone also shows a signal level of ~-50dBm.

Is the weak signal a sign of a hardware problem?