Maxlinear Inc (MXL) said after close Wednesday that it earned $0.02 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $135.5 million, missing estimates by $3.7 million.
In the same quarter a year ago, the company earned $1.05 per share on revenue of $285.7 million.
The stock is down 17.66% to $15.03 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Maxlinear Inc a Bearish Sentiment Rank from InvestorsObserver.
Maxlinear Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 11, putting Maxlinear Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $18.31 on October 25, 2023 and set a 52-week high on February 1, 2023 at $43.66.
MaxLinear Inc is a provider of radio frequency and mixed-signal integrated circuits for cable and satellite broadband communications, the connected home, and for data center, metro, and long-haul fiber networks. The company's radio frequency receiver products capture and process digital and analog broadband signals to be decoded for various applications. MaxLinear's product options include both radio frequency receivers and radio frequency receiver systems-on-chips. The company's products enable the distribution and display of broadband video and data content in a wide range of electronic devices. Customers for MaxLinear include original equipment manufacturers, module makers, and original design manufacturers.
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Maxlinear Inc Down 17.66% To $15.03 After Earnings Miss
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