MaxLinear (NYSE:MXL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

MaxLinear (NYSE:MXL) posted its earnings results on Wednesday. The semiconductor company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.02, reports. The firm had revenue of $95.27 million during the quarter, compared to the consensus estimate of $94.99 million. MaxLinear had a negative net margin of 28.70% and a negative return on equity of 4.63%. MaxLinear updated its Q2 2024 guidance to EPS.

MaxLinear Trading Down 1.2 %

Shares of MaxLinear stock opened at $20.68 on Friday. MaxLinear has a 1 year low of $13.43 and a 1 year high of $35.09. The firm has a market cap of $1.69 billion, a PE ratio of -10.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.20 and a quick ratio of 1.75. The company has a 50 day simple moving average of $19.90 and a two-hundred day simple moving average of $19.95.

Institutional Investors Weigh In On MaxLinear

Hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in 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 purchasing an additional 2,010 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MaxLinear by 27.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,029 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 862 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of MaxLinear by 289.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,062 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 3,020 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of MaxLinear in the 3rd quarter worth approximately $132,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of MaxLinear by 8.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,310 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 490 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MXL has been the subject of several recent research reports. Northland Securities upgraded shares of MaxLinear from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Thursday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of MaxLinear in a research note on Thursday. StockNews.com cut shares of MaxLinear from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Company cut shares of MaxLinear from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $35.00 to $25.00 in a research note on Wednesday, January 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $28.00 price objective on shares of MaxLinear in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.09.

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.