MaxLinear (NYSE:MXL) Issues Quarterly Earnings Results

MaxLinear (NYSE:MXL) released its 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. The business had revenue of $92.00 million for the quarter, compared to the consensus estimate of $100.25 million. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.75%. The firm’s revenue for the quarter was down 50.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. MaxLinear updated its Q3 2024 guidance to EPS.

MaxLinear Price Performance

NYSE MXL traded down $8.27 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. MaxLinear has a twelve month low of $13.43 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.56 and a current ratio of 1.99. The stock has a market cap of $1.17 billion, a PE ratio of -8.23 and a beta of 1.84. The firm’s 50 day moving average is $20.15 and its two-hundred day moving average is $20.13.

Analysts Set New Price Targets

Several equities analysts have recently commented on MXL shares. StockNews.com lowered shares of MaxLinear from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Susquehanna lowered their price target on shares of MaxLinear from $30.00 to $26.00 and set a “positive” rating for the company in a research report on Thursday. Needham & Company LLC lowered shares of MaxLinear from a “buy” rating to a “hold” rating in a research report on Thursday. Craig Hallum lowered their price target on shares of MaxLinear from $38.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus upped their price target on shares of MaxLinear from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MaxLinear currently has a consensus rating of “Hold” and a consensus target price 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.