Maxlinear (MXL) AI Stock Analysis

• Market Cap: $1.05B
• Dividend Yield: N/A
• Average Volume (3M): 990.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.23
• Revenue Growth: -33.12%
• EPS Growth: -39.38%
• Country: US
• Employees: 1,294
• Sector: Technology
• Sector Strength: 84
• Industry: Semiconductors
• EPS (TTM): -0.05
• Shares Outstanding: 86,373,820
• 10 Day Avg. Volume: 1,061,203
• 30 Day Avg. Volume: 990,863
• PEG Ratio: 2.88
• Price to Book (P/B): 3.63
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 21.11
• Enterprise Value/Market Cap: 1.56
• Enterprise Value/Revenue: 1.04
• Enterprise Value/Gross Profit: 8.20
• Enterprise Value/Ebitda: -2.47
• 1Y Price Target: $13.33
• Price Target Upside: 10.07% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 49 Neutral
• Price Target: $12.00 ▼(-0.91%Downside)

Maxlinear's overall stock score is primarily influenced by its financial performance challenges, including significant revenue declines and cash flow issues. Despite technical indicators suggesting potential stability, the negative valuation metrics weigh heavily. However, the optimistic earnings call outlook and strategic growth plans provide some upside potential.

Positive Factors

Financial Performance

Cash flow and earnings are expected to turn positive, indicating a recovery in financial performance.

Market Position

The company's broad and diversified product portfolio is well positioned with accelerating demand for high-performance connectivity solutions across data centers, core, and edge networks as AI workloads increasingly move closer to the end user.

Order Strength

Orders have continued to strengthen throughout the quarter with a backlog in place for Q3 and Q4 deliveries, suggesting strong future performance.

Negative Factors

Competitive Risks

Competitive threats such as 3nm Marvell DSPs are potential risks to the long-term optical opportunity.

Macro Environment

Uncertain macro environment leads to a Hold rating.

Tariff Uncertainty

While tariff uncertainty remains a concern, management does not expect a direct material impact, although the shifting policy landscape adds complexity.

Maxlinear Business Overview & Revenue Model

Company Description

MaxLinear, Inc. provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. Its products integrate various portions of a high-speed communication system, including RF, high-performance analog, mixed-signal, digital signal processing, security engines, data compression, networking layers, and power management. The company offers broadband radio transceiver front ends, data converters, embedded systems and software architecture, and architecture and system design for highly integrated end-to-end communication platform solutions. Its products are used in various electronic devices, such as cable data over cable service interface specifications (DOCSIS), fiber and DSL broadband modems and gateways; Wi-Fi and wireline routers for home networking; radio transceivers and modems for 4G/5G base-station and backhaul infrastructure; and fiber-optic modules for data center, metro, and long-haul transport networks, as well as power management and interface products. It serves electronics distributors, module makers, original equipment manufacturers (OEMs), and original design manufacturers (ODMs) through a direct sales force, third-party sales representatives, and a network of distributors. The company was incorporated in 2003 and is headquartered in Carlsbad, California.

How the Company Makes Money

MaxLinear generates revenue primarily through the sale of its semiconductor products to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) who incorporate these components into their systems. The company focuses on markets such as broadband, connectivity, and infrastructure, providing solutions for cable and satellite broadband, wireless infrastructure, and data center environments. Key revenue streams include sales from RF transceivers and tuners, power management solutions, and high-speed connectivity products. Additionally, MaxLinear benefits from strategic partnerships and collaborations with leading technology firms, which help to expand its market reach and drive innovation in its product offerings.

Maxlinear Financial Statement Overview

Summary

Maxlinear's financial performance is under significant pressure, evidenced by a deeply negative net profit margin and substantial revenue contraction. While the balance sheet shows some stability, negative cash flows highlight operational difficulties. Improvement is needed in revenue and profitability to stabilize financial health.

Income Statement

Maxlinear's income statement shows significant challenges with declining revenue and increasing losses. The Gross Profit Margin for TTM stands at 55.02%, but the Net Profit Margin is deeply negative at -61.61%. The company has experienced a sharp drop in revenue from $1.12 billion in 2022 to $361.19 million in the TTM, representing a significant contraction. Both EBIT and EBITDA margins are negative, indicating operational inefficiencies. Overall, the financial trajectory highlights critical revenue and profitability issues.

Balance Sheet

The balance sheet reflects a moderate financial position with some concerns. The Debt-to-Equity Ratio is 0.28, indicating a reasonable level of leverage. However, the Equity Ratio is 57.67%, suggesting a stable capital structure. Return on Equity is negative due to the net losses, which is a significant downside. The company maintains a healthy amount of cash and short-term investments relative to its total liabilities, providing some liquidity buffer.

Cash Flow

Cash flows are under pressure, with operating cash flow turning negative in TTM. The Operating Cash Flow to Net Income Ratio is unfavorable due to negative net income, and Free Cash Flow is also negative at -$86.60 million, indicating cash outflows greater than cash inflows from operations. The deterioration from a positive free cash flow position in 2022 to a negative one in TTM is concerning.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
361.19M	360.53M	693.26M	1.12B	892.40M	478.60M
	Gross Profit
198.75M	194.78M	385.66M	649.77M	495.83M	212.80M
	EBIT
-193.97M	-223.35M	-38.22M	180.24M	65.25M	-97.22M
	EBITDA
-169.10M	-173.70M	9.53M	255.86M	145.27M	-29.28M
	Net Income Common Stockholders
-222.60M	-245.20M	-73.15M	125.04M	41.97M	-98.59M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
102.77M	118.58M	187.29M	205.88M	130.57M	148.90M
	Total Assets
855.28M	864.64M	1.08B	1.18B	1.05B	1.02B
	Total Debt
148.81M	149.36M	157.75M	155.60M	330.79M	384.45M
	Net Debt
46.04M	30.79M	-29.54M	-31.75M	200.22M	235.55M
	Total Liabilities
362.11M	348.36M	393.99M	503.64M	561.19M	631.33M
	Stockholders Equity
493.18M	516.28M	686.26M	676.38M	489.20M	391.12M
Cash Flow		Free Cash Flow
-88.58M	-68.74M	23.56M	336.29M	121.48M	58.31M
	Operating Cash Flow
-72.67M	-45.30M	43.37M	388.73M	168.23M	73.59M
	Investing Cash Flow
-16.73M	-23.45M	-15.94M	-91.76M	-91.76M	-175.29M
	Financing Cash Flow
1.25M	1.29M	-26.36M	-240.40M	-91.90M	159.65M

Maxlinear Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 12.11
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MXL, the sentiment is Neutral. The current price of 12.11 is above the 20-day moving average (MA) of 11.97, above the 50-day MA of 11.18, and below the 200-day MA of 14.75, indicating a neutral trend. The MACD of 0.19 indicates Positive momentum. The RSI at 52.76 is Neutral, neither overbought nor oversold. The STOCH value of 35.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MXL.

Maxlinear Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IMOS	71 Outperform	$694.36M	19.61	4.72%	5.77%	-0.41%	-46.38%
AOSL	63 Neutral	$704.72M	―	-2.55%	―	3.57%	-134.36%
Sector *	62 Neutral	$11.97B	10.29	-7.47%	2.99%	7.32%	-8.06%
COHU	60 Neutral	$830.54M	―	-9.87%	―	-30.75%	-3668.44%
UCTT	58 Neutral	$929.62M	33.33	3.30%	―	20.20%	―
ICHR	57 Neutral	$610.06M	―	-2.35%	―	13.41%	72.56%
MXL	49 Neutral	$1.05B	―	-39.36%	―	-33.12%	-39.38%

Maxlinear Corporate Events

MaxLinear’s 2025 Annual Meeting Key Decisions

MaxLinear held its 2025 Annual Meeting of Stockholders on May 20, 2025, where several key decisions were made. Daniel A. Artusi was re-elected as a Class I director, while the proposed executive officer compensation and amendment to the 2010 Equity Incentive Plan were not approved by stockholders. The appointment of Grant Thornton LLP as the independent registered public accounting firm for 2025 was ratified.

The most recent analyst rating on (MXL) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on Maxlinear stock, see the MXL Stock Forecast page.