MaxLinear (NYSE:MXL) Updates Q2 2021 Earnings Guidance

MaxLinear (NYSE:MXL) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $200 million-210 million, compared to the consensus revenue estimate of $204.78 million.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded MaxLinear from a hold rating to a buy rating and set a $43.00 price objective on the stock in a research note on Friday, April 30th. Needham & Company LLC raised their price objective on MaxLinear from $45.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, April 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. MaxLinear has a consensus rating of Buy and a consensus target price of $41.33.

MXL stock traded up $0.76 during mid-day trading on Thursday, reaching $38.50. The company had a trading volume of 247,594 shares, compared to its average volume of 631,714. The company has a quick ratio of 1.28, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $2.90 billion, a PE ratio of -35.65, a P/E/G ratio of 1.36 and a beta of 1.98. MaxLinear has a one year low of $18.39 and a one year high of $44.05. The business has a 50-day moving average price of $36.36.

MaxLinear (NYSE:MXL) last issued its quarterly earnings data on Wednesday, April 28th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. MaxLinear had a negative net margin of 12.67% and a positive return on equity of 10.95%. The business had revenue of $209.36 million for the quarter, compared to analysts’ expectations of $204.60 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 237.5% on a year-over-year basis. As a group, research analysts predict that MaxLinear will post 1.38 earnings per share for the current fiscal year.

In related news, insider James Lougheed sold 4,976 shares of MaxLinear stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $36.00, for a total transaction of $179,136.00. Following the sale, the insider now directly owns 84,535 shares in the company, valued at $3,043,260. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kishore Seendripu sold 13,198 shares of MaxLinear stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $36.62, for a total transaction of $483,310.76. Following the sale, the chief executive officer now owns 211,596 shares in the company, valued at $7,748,645.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,765 shares of company stock worth $5,972,210. Company insiders own 8.82% of the company’s stock.

About MaxLinear

MaxLinear, Inc provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including radiofrequency (RF), high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management.

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Earnings History and Estimates for MaxLinear (NYSE:MXL)

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