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

MaxLinear (NYSE:MXL) posted its quarterly earnings results on Wednesday. The semiconductor company reported ($0.36) earnings per share (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 for the quarter, compared to the consensus estimate of $80.40 million. During the same period last year, the company posted ($0.02) earnings per share. The business’s revenue was down 40.2% compared to the same quarter last year. MaxLinear updated its Q4 2024 guidance to EPS.

MaxLinear Stock Performance

NYSE MXL traded up $0.22 during trading on Thursday, reaching $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 current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 0.20. The firm has a market capitalization 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 firm has a 50 day moving average price of $13.83 and a 200 day moving average price of $17.17.

Analyst Ratings Changes

MXL has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Benchmark restated a “buy” rating and set a $22.00 price objective on shares of MaxLinear in a research note on Thursday. Susquehanna lowered shares of MaxLinear from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $15.00 in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of MaxLinear in a research note on Thursday. Finally, Craig Hallum decreased their price target on shares of MaxLinear from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.13.

Insider Buying and Selling at MaxLinear

In other MaxLinear news, CEO Kishore Seendripu acquired 108,303 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average price of $12.94 per share, with a total value of $1,401,440.82. Following the acquisition, the chief executive officer now directly owns 531,937 shares of the company’s stock, valued at approximately $6,883,264.78. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.