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Chipmaker MaxLinear Lines Up Third-Quarter Beat-And-Raise Report

Chipmaker MaxLinear (MXL) late Wednesday beat Wall Street’s targets for the third quarter and guided higher for the current period. But MXL stock dipped in extended trading.




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The Carlsbad, Calif.-based company earned an adjusted 75 cents a share on sales of $229.8 million in the September quarter. Analysts expected MaxLinear earnings of 67 cents a share on sales of $223.9 million, according to FactSet. In the year-earlier period, MaxLinear earnings were 32 cents a share on sales of $156.6 million.

On Oct. 12, MaxLinear previewed better-than-expected sales and profit margins in a news release.

For the current quarter, MaxLinear expects to generate sales of $240 million to $250 million. The midpoint of $245 million tops analyst estimates for $228.8 million, according to FactSet.

Earnings report details to follow.

MXL Stock In Cup Base

In after-hours trading on the stock market today, MXL stock fell a fraction. During the regular session Wednesday, MXL stock slipped 1.4% to 51.72.

MXL stock has formed a cup base with a buy point of 55.10, according to IBD MarketSmith charts.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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