MaxLinear (MXL) Set to Announce Quarterly Earnings on Wednesday

MaxLinear (NYSE:MXL) is set to issue its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of ($0.32) per share for the quarter. MaxLinear has set its Q3 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

MaxLinear (NYSE:MXL) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The business had revenue of $92.00 million for the quarter, compared to analyst estimates of $100.25 million. MaxLinear had a negative net margin of 42.38% and a negative return on equity of 12.39%. The company’s quarterly revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. On average, analysts expect MaxLinear to post $-2 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MaxLinear Price Performance

Shares of NYSE MXL opened at $13.90 on Wednesday. MaxLinear has a fifty-two week low of $11.08 and a fifty-two week high of $26.59. The company has a market cap of $1.16 billion, a PE ratio of -7.35 and a beta of 1.83. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.59 and a current ratio of 2.09. The business has a 50-day simple moving average of $13.39 and a two-hundred day simple moving average of $17.48.

Analyst Upgrades and Downgrades

MXL has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price 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. Craig Hallum cut their target price on MaxLinear from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Benchmark lowered their price target on MaxLinear from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Northland Securities cut their price objective on MaxLinear from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Needham & Company LLC downgraded MaxLinear from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.44.

Insiders Place Their Bets

In other news, CEO Kishore Seendripu purchased 108,303 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of $12.94 per share, for a total transaction of $1,401,440.82. Following the completion of the transaction, the chief executive officer now owns 531,937 shares in the company, valued at $6,883,264.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

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.