MaxLinear (NASDAQ:MXL) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

MaxLinear Stock Performance

MXL stock traded down $0.24 during trading on Friday, hitting $14.85. 1,694,958 shares of the company’s stock traded hands, compared to its average volume of 952,319. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.43 and a beta of 1.83. MaxLinear has a 52 week low of $11.08 and a 52 week high of $26.59. The stock has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $17.11. The company has a quick ratio of 1.59, a current ratio of 2.09 and a debt-to-equity ratio of 0.20.

Analysts Set New Price Targets

Several research firms recently commented on MXL. Northland Securities cut their price target on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of MaxLinear in a research report on Thursday. Susquehanna downgraded shares of MaxLinear from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $15.00 in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of MaxLinear in a report on Thursday. Finally, Stifel Nicolaus increased their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MaxLinear has a consensus rating of “Hold” and an average price target of $23.13.

Insider Transactions at MaxLinear

In related news, CEO Kishore Seendripu bought 108,303 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was bought at an average cost of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the purchase, the chief executive officer now directly owns 531,937 shares in the company, valued at approximately $6,883,264.78. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

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.