MaxLinear (MXL) Releases Quarterly Earnings Results
MaxLinear (NYSE:MXL) announced its earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.07 by $0.01, AnalystRatings.Net reports. The company had revenue of $31.60 million for the quarter, compared to the consensus estimate of $31.96 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 27.4% on a year-over-year basis.
MaxLinear (NYSE:MXL) traded down 1.26% during mid-day trading on Friday, hitting $10.21. The stock had a trading volume of 20,562 shares. MaxLinear has a 52 week low of $5.05 and a 52 week high of $11.32. The stock has a 50-day moving average of $10.33 and a 200-day moving average of $8.72. The company’s market cap is $355.2 million.
On a related note, analysts at Needham & Company raised their price target on shares of MaxLinear to $14.00 in a research note to investors on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. MaxLinear has an average rating of “Buy” and a consensus price target of $11.00.
MaxLinear, Inc operates as a fabless communications Integrated Circuit company. The Company is creating solutions for wireless and wire-line applications (NYSE:MXL).
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