MaxLinear (NYSE:MXL) Announces Quarterly Earnings Results

MaxLinear (NYSE:MXL) issued its quarterly earnings results on Wednesday. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06), Briefing.com reports. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. The business had revenue of $92.00 million during the quarter, compared to analyst estimates of $100.25 million. During the same quarter last year, the firm posted $0.19 earnings per share. The company’s revenue was down 50.0% on a year-over-year basis. MaxLinear updated its Q3 2024 guidance to EPS.

MaxLinear Stock Down 37.1 %

MaxLinear stock traded down $8.27 during midday trading on Thursday, hitting $14.02. 7,723,860 shares of the stock were exchanged, compared to its average volume of 801,955. MaxLinear has a 1 year low of $13.43 and a 1 year high of $35.00. The firm has a market cap of $1.17 billion, a P/E ratio of -8.23 and a beta of 1.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.56. The company has a 50 day moving average price of $20.15 and a two-hundred day moving average price of $20.13.

Analyst Ratings Changes

MXL has been the topic of a number of recent analyst reports. Craig Hallum reduced 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. StockNews.com downgraded shares of MaxLinear from a “hold” rating to a “sell” rating in a 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. Benchmark decreased their price target on shares of MaxLinear from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Northland Securities decreased their price target on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company 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.