MaxLinear (NYSE:MXL) Announces Earnings Results

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

MaxLinear Price Performance

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. 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 research note on Thursday. Northland Securities reduced their target price on shares of MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday. Craig Hallum reduced their target price on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday. Susquehanna reduced their target price on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC downgraded shares of MaxLinear from a “buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MaxLinear has a consensus rating of “Hold” and a consensus price target of $24.70.

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.