MaxLinear (NYSE:MXL) Announces Quarterly Earnings Results

MaxLinear (NYSE:MXL) released its earnings results on Wednesday. The semiconductor company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04), Briefing.com reports. MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $80.40 million. During the same quarter last year, the business posted ($0.02) EPS. The firm’s revenue was down 40.2% on a year-over-year basis. MaxLinear updated its Q4 2024 guidance to EPS.

MaxLinear Price Performance

Shares of MaxLinear stock traded up $0.22 on Thursday, hitting $15.09. The company’s stock had a trading volume of 4,859,181 shares, compared to its average volume of 948,699. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $13.83 and a 200-day moving average price of $17.17. MaxLinear has a 52-week low of $11.08 and a 52-week high of $26.59. The company has a market capitalization of $1.25 billion, a P/E ratio of -7.98 and a beta of 1.83.

Insiders Place Their Bets

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at $6,883,264.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Craig Hallum reduced their price target on MaxLinear from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Susquehanna lowered MaxLinear from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a report on Thursday. Finally, Benchmark restated a “buy” rating and set a $22.00 target price on shares of MaxLinear in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.13.

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.