MaxLinear (NYSE:MXL) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

MaxLinear (NYSE:MXL) posted its earnings results on Wednesday. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06), Briefing.com reports. MaxLinear had a negative return on equity of 12.12% and a negative net margin of 42.38%. The business had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. During the same period last year, the business earned $0.19 EPS. MaxLinear’s revenue was down 50.0% compared to the same quarter last year. MaxLinear updated its Q3 2024 guidance to EPS.

MaxLinear Stock Down 8.0 %

Shares of MaxLinear stock traded down $1.12 on Friday, reaching $12.90. 2,280,915 shares of the company were exchanged, compared to its average volume of 812,393. The stock’s 50 day moving average price is $20.04 and its 200-day moving average price is $20.09. The company has a market cap of $1.07 billion, a P/E ratio of -7.00 and a beta of 1.84. MaxLinear has a 1-year low of $12.59 and a 1-year high of $26.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.56.

Wall Street Analyst Weigh In

MXL has been the topic of a number of recent analyst reports. StockNews.com cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday. Susquehanna dropped their target price on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a report on Thursday. Craig Hallum decreased their price target on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MaxLinear presently has an average rating of “Hold” and a consensus price target of $24.70.

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.