Why MaxLinear Stock Is Plummeting Today
(NASDAQ: MXL) stock is getting crushed Thursday on the heels of the company's recent earnings report trading. The semiconductor specialist's share price was down 20.5% as of 12:45 p.m. ET, according to data from S&P Global Market Intelligence.
MaxLinear published third-quarter results after the market closed yesterday, posting sales and earnings performance that fell far short of the market's expectations. The company also received a ratings downgrade from a high-profile analyst firm. After the underwhelming results and negative analyst coverage, the company's stock is seeing big sell-offs today.
MaxLinear reported non-GAAP (adjusted) earnings per share of $0.02 on sales of $135.5 million. For comparison, the average analyst estimate had guided for the company to record adjusted earnings of $0.04 per share on sales of $139.77 million. The company's revenue was down 52.6% year over year in the quarter, and management noted that it was continuing to see relatively weak demand and headwinds stemming from high inventory levels.
Source Fool.com
Maxlinear Inc. A Stock
We see a rather positive sentiment for Maxlinear Inc. A with 17 Buy predictions and 1 Sell predictions.
Based on the current price of 12.97 € the target price of 26 € shows a potential of 100.54% for Maxlinear Inc. A which would more than double the current price.
