MaxLinear (NYSE:MXL) Posts Earnings Results, Misses Estimates By $0.04 EPS

MaxLinear (NYSE:MXL) posted its earnings results on Wednesday. The semiconductor company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04), Briefing.com reports. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company 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 for the quarter was down 40.2% on a year-over-year basis. MaxLinear updated its Q4 2024 guidance to EPS.

MaxLinear Stock Up 1.5 %

Shares of MaxLinear stock traded up $0.22 during trading on Thursday, hitting $15.09. 4,859,181 shares of the stock were exchanged, compared to its average volume of 948,699. The firm’s 50-day moving average price is $13.83 and its 200 day moving average price is $17.17. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -7.98 and a beta of 1.83. MaxLinear has a 12-month low of $11.08 and a 12-month high of $26.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.59.

Analyst Ratings Changes

MXL has been the subject of a number of research reports. Craig Hallum dropped 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. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of MaxLinear in a research report on Thursday. Northland Securities dropped their price objective on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $15.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.13.

Insider Transactions at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu purchased 108,303 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was purchased at an average cost of $12.94 per share, with a total value of $1,401,440.82. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

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.