MaxLinear (NYSE:MXL) Announces Earnings Results

MaxLinear (NYSE:MXL) released its earnings results on Wednesday. The semiconductor company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.02, reports. MaxLinear had a negative return on equity of 4.75% and a negative net margin of 28.70%. The firm had revenue of $95.27 million during the quarter, compared to analysts’ expectations of $94.99 million. MaxLinear updated its Q2 2024 guidance to EPS.

MaxLinear Trading Down 0.4 %

Shares of MXL traded down $0.09 during midday trading on Friday, hitting $20.59. The stock had a trading volume of 843,599 shares, compared to its average volume of 1,096,932. The stock’s 50 day moving average is $19.92 and its 200 day moving average is $19.94. The firm has a market cap of $1.69 billion, a PE ratio of -10.89 and a beta of 1.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.75. MaxLinear has a 1 year low of $13.43 and a 1 year high of $35.09.

Analyst Ratings Changes

MXL has been the topic of a number of research reports. Benchmark reiterated a “buy” rating and issued a $28.00 price target on shares of MaxLinear in a report on Thursday. Northland Securities raised MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of MaxLinear in a research note on Thursday. StockNews.com cut MaxLinear from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Wells Fargo & Company cut MaxLinear from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.09.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently added to or reduced their stakes in MXL. CWM LLC grew its stake in shares of MaxLinear by 712.8% during the third quarter. CWM LLC now owns 2,292 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 2,010 shares during the last quarter. SG Americas Securities LLC grew its position in MaxLinear by 659.9% in the 3rd quarter. SG Americas Securities LLC now owns 33,837 shares of the semiconductor company’s stock valued at $753,000 after acquiring an additional 29,384 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in MaxLinear in the third quarter worth $132,000. Simplicity Solutions LLC lifted its position in shares of MaxLinear by 523.2% during the third quarter. Simplicity Solutions LLC now owns 42,735 shares of the semiconductor company’s stock worth $951,000 after purchasing an additional 35,878 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of MaxLinear during the third quarter worth $273,000. 90.79% of the stock is currently owned by institutional investors.

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.