MaxLinear (NASDAQ:MXL) Posts Earnings Results, Beats Expectations By $0.01 EPS

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

MaxLinear Stock Up 0.7%

MXL stock traded up $0.13 during midday trading on Thursday, reaching $19.27. 1,947,784 shares of the company were exchanged, compared to its average volume of 1,127,051. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -9.22 and a beta of 1.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.55. MaxLinear has a 1-year low of $8.35 and a 1-year high of $20.82. The stock’s 50-day simple moving average is $17.79 and its 200 day simple moving average is $16.47.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Williams Trading set a $25.00 price target on shares of MaxLinear in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d-)” rating on shares of MaxLinear in a research note on Thursday, January 22nd. Benchmark lifted their price objective on shares of MaxLinear from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 16th. Finally, Stifel Nicolaus set a $23.00 price target on shares of MaxLinear in a research note on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.29.

MaxLinear declared that its Board of Directors has initiated a share buyback plan on Monday, November 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On MaxLinear

Several hedge funds have recently made changes to their positions in MXL. Quarry LP grew its position in MaxLinear by 1,293.0% during the third quarter. Quarry LP now owns 2,187 shares of the semiconductor company’s stock worth $35,000 after buying an additional 2,030 shares during the period. Raymond James Financial Inc. acquired a new position in MaxLinear during the second quarter worth about $51,000. iSAM Funds UK Ltd purchased a new position in shares of MaxLinear during the 3rd quarter worth approximately $58,000. Strs Ohio purchased a new stake in MaxLinear in the 1st quarter valued at approximately $63,000. Finally, US Bancorp DE grew its holdings in MaxLinear by 121.2% during the 3rd 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. Hedge funds and other institutional investors own 90.79% of the company’s stock.

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.