MaxLinear Analysts Boost Their Forecasts After Upbeat Q2 Results

MaxLinear Inc. (NASDAQ: MXL ) on Thursday reported upbeat second-quarter earnings and issued strong third-quarter guidance.

Second-quarter revenue rose 55% year over year and 23% sequentially to $168.8 million, beating the $164.702 million analyst estimate.

GAAP earnings were 2 cents per share, while adjusted earnings of 35 cents per share topped the 33-cent estimate. “Our Q2 financial results highlight the exciting inflection in our business trajectory and the beginning of a multiyear growth phase for MaxLinear,” CEO Kishore Seendripu said.

For the third quarter, MaxLinear expects revenue of $210 million to $220 million, above the $173.837 million analyst estimate.

MaxLinear shares dipped 14.6% to trade at $77.90 on Friday.

These analysts made changes to their price targets on MaxLinear following earnings announcement.

Needham analyst N.

Quinn Bolton maintained the stock with a Buy and raised the price target from $60 to $100.

Susquehanna analyst Christopher Rolland maintained the stock with a Neutral and raised the price target from $45 to $80.

Considering buying MXL stock? Here’s what analysts think: Photo via Shutterstock