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Friday, November 27, 2020

MaxLinear Inc. (NYSE:MXL) Recent Earnings Shows Major Promise

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MaxLinear Inc. (MXL) shares are trading at higher $26.52 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $32.75.

To add more color to this target, the company’s high over the last year is $28.36 and the low is $7.79. Over the last 52 weeks, MXL is up 21.60% while the S&P 500 is up 14.92%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MXL reported a profit of $32.74 million. MaxLinear Inc. also saw revenues increase to $65.22 million. In addition, MXL has free cash flow of $10.97 million as of 06-2020. The company’s EBITDA came in at -$5.85 million which compares well with its peers.

MXL booked profit margins of -18.10%, its Return on Equity (ROE) is -12.20%, and its Return on Assets is -7.20%. All told, it is clear that, MXL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MXL has a short ratio of 5.26 and outstanding shares of 72.74M.

Company Outlook

MXL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.27 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.69. MaxLinear Inc. MXL also noted assets of $693.06 million at the end of the last quarter. Investors should also keep an eye on sector updates as MXL has historically followed its peers on positive news.

All told, MaxLinear Inc. MXL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MXL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

MaxLinear Inc. MXL is now commanding a market cap of 2.00B and a float of 68.64M. MXL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MXL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MXL, either long or short, and we have not been compensated for this article.

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