MaxLinear (NASDAQ:MXL) Releases Earnings Results, Beats Estimates By $0.01 EPS

MaxLinear (NASDAQ:MXL) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01, FiscalAI reports. The business had revenue of $136.44 million for the quarter, compared to the consensus estimate of $134.82 million. MaxLinear had a negative net margin of 42.43% and a negative return on equity of 12.74%.

MaxLinear Stock Up 0.7%

NASDAQ MXL traded up $0.13 on Thursday, reaching $19.27. The company had a trading volume of 1,947,784 shares, compared to its average volume of 1,127,051. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.08. MaxLinear has a 1 year low of $8.35 and a 1 year high of $20.82. The firm has a 50-day moving average of $17.79 and a 200-day moving average of $16.47. The firm has a market capitalization of $1.68 billion, a PE ratio of -9.22 and a beta of 1.77.

MaxLinear declared that its board has approved a stock repurchase program on Monday, November 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of MaxLinear

Large investors have recently modified their holdings of the business. Quarry LP lifted its stake in shares of MaxLinear by 1,293.0% in the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 2,030 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of MaxLinear in the 2nd quarter worth about $51,000. iSAM Funds UK Ltd bought a new position in shares of MaxLinear during the third quarter worth about $58,000. Strs Ohio bought a new stake in MaxLinear in the first quarter valued at about $63,000. Finally, US Bancorp DE increased its holdings in MaxLinear by 121.2% in the third quarter. US Bancorp DE now owns 6,230 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 3,414 shares during the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MXL has been the subject of several analyst reports. Benchmark upped their target price on MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Williams Trading set a $25.00 target price on shares of MaxLinear in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus set a $23.00 price objective on MaxLinear in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.29.

About MaxLinear

MaxLinear, Inc is a provider of radio-frequency (RF), analog, and mixed-signal integrated circuits for broadband communications, data center connectivity, and video infrastructure applications. The company’s product portfolio includes high-performance RF front-end modules, broadband power amplifiers, optical and Ethernet transceivers, and network processors designed to support demanding signal processing requirements.

MaxLinear’s semiconductor solutions are used by cable and satellite television operators, fiber-to-the-home service providers, network equipment manufacturers, and data center operators.