Maxlinear (MXL) AI Stock Analysis

• Market Cap: $1.53B
• Dividend Yield: N/A
• Average Volume (3M): 1.31M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.18
• Revenue Growth: 7.53%
• EPS Growth: 22.97%
• Country: US
• Employees: 1,294
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.14
• Shares Outstanding: 87,372,830
• 10 Day Avg. Volume: 1,270,423
• 30 Day Avg. Volume: 1,307,357
• PEG Ratio: -0.03
• Price to Book (P/B): 3.20
• Price to Sales (P/S): 4.59
• P/FCF Ratio: -24.06
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: 3.39
• Enterprise Value/Gross Profit: 6.07
• Enterprise Value/Ebitda: -12.56
• 1Y Price Target: $20.83
• Price Target Upside: 18.76% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 0.29
• Revenue Forecast (FY): $465.55M

• Rating: 60 Neutral
• Price Target: $20.50 ▲(16.88% Upside)

Maxlinear's stock score is primarily impacted by its financial difficulties, including negative profitability and cash flow challenges. However, strong technical indicators and a positive corporate event in the form of a share buyback plan provide some support. The valuation remains a concern due to the negative P/E ratio, and while the earnings call shows growth potential, operational risks persist.

Positive Factors

Share Buyback Plan

The share buyback plan indicates management's confidence in the company's long-term growth prospects and commitment to enhancing shareholder value.

Revenue Growth

Strong revenue growth reflects expanding market reach and product adoption, particularly in data center and broadband segments.

Infrastructure Market Expansion

Significant growth in infrastructure revenues showcases potential in data center and wireless infrastructure, supporting long-term business expansion.

Negative Factors

Operational Inefficiencies

High operational losses due to stock-based compensation and restructuring costs indicate inefficiencies that could hinder profitability.

Cash Flow Challenges

Persistent cash flow issues limit the company's ability to invest in growth and manage financial obligations, impacting long-term stability.

DOCSIS 4.0 Deployment Challenges

Deployment delays in DOCSIS 4.0 could slow broadband growth, affecting the company's competitive position in the telecommunications sector.

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, which are incorporated into various electronic devices and systems. The company's key revenue streams include broadband communications ICs, which are used extensively in cable modems and gateways, and data center solutions that support high-speed data transmission. Additionally, MaxLinear earns revenue from broadcast video processing solutions and other mixed-signal products. Significant partnerships with major telecommunications and technology firms enhance its market reach and sales potential, while ongoing innovation in RF and mixed-signal technology positions the company favorably in a competitive landscape. The diversification of its product offerings allows MaxLinear to cater to multiple sectors, thus stabilizing its revenue across varying market conditions.

Maxlinear Financial Statement Overview

Summary

Maxlinear's financial performance is challenged by declining revenues, negative profitability, and cash flow issues. While there are improvements in leverage, the company struggles with operational inefficiencies and needs to stabilize its financial position.

Income Statement

Maxlinear's income statement shows a challenging financial trajectory. The company has experienced a decline in revenue over recent years, with a significant drop from 2022 to 2023. Gross profit margins have been relatively stable, but the net profit margin has turned negative, indicating losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. Despite a slight revenue growth in the TTM period, the overall profitability remains a concern.

Balance Sheet

The balance sheet reveals a moderate financial position. The debt-to-equity ratio has improved over time, indicating better leverage management. However, the return on equity is negative, highlighting the company's struggle to generate profits from its equity base. The equity ratio is stable, suggesting a balanced asset structure, but the declining stockholders' equity is a concern.

Cash Flow

Cash flow analysis shows significant challenges, with negative operating and free cash flows in the TTM period. The free cash flow growth rate is negative, indicating a decline in cash generation capabilities. The operating cash flow to net income ratio is also negative, reflecting cash flow issues. Despite a positive free cash flow to net income ratio, the overall cash flow situation is weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	423.37M	360.53M	693.26M	1.12B	892.40M	478.60M
Gross Profit	236.38M	192.42M	382.78M	637.81M	472.20M	189.26M
EBITDA	-114.17M	-181.69M	9.53M	255.86M	145.27M	-29.28M
Net Income	-179.62M	-245.20M	-73.15M	125.04M	41.97M	-98.59M
Balance Sheet
Total Assets	808.13M	866.88M	1.08B	1.19B	1.05B	1.03B
Cash, Cash Equivalents and Short-Term Investments	113.24M	119.58M	188.34M	206.86M	130.68M	149.02M
Total Debt	145.16M	149.36M	157.75M	155.60M	339.68M	392.60M
Total Liabilities	343.41M	350.60M	397.80M	509.77M	563.26M	641.51M
Stockholders Equity	464.73M	516.28M	686.26M	676.38M	489.20M	391.12M
Cash Flow
Free Cash Flow	-29.71M	-62.98M	11.59M	347.47M	129.06M	61.11M
Operating Cash Flow	-18.63M	-45.30M	25.05M	388.73M	168.23M	73.59M
Investing Cash Flow	-19.11M	-23.45M	-15.94M	-91.76M	-91.76M	-175.29M
Financing Cash Flow	1.38M	1.29M	-8.03M	-240.40M	-91.90M	159.65M

Maxlinear Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Positive. The current price of 17.54 is below the 20-day moving average (MA) of 17.64, above the 50-day MA of 16.22, and above the 200-day MA of 14.34, indicating a neutral trend. The MACD of 0.50 indicates Positive momentum. The RSI at 54.42 is Neutral, neither overbought nor oversold. The STOCH value of 45.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MXL.

Maxlinear Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLAB	74 Outperform	$1.99B	14.71	11.89%	―	-2.04%	8.84%
VECO	70 Neutral	$1.76B	35.34	6.12%	―	-3.90%	-41.66%
HIMX	69 Neutral	$1.44B	22.96	7.17%	4.48%	-3.62%	-20.33%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
LASR	61 Neutral	$2.00B	-44.28	-19.18%	―	12.05%	14.24%
MXL	60 Neutral	$1.53B	-8.37	-35.16%	―	7.53%	22.97%
NVTS	48 Neutral	$1.77B	-11.98	-33.25%	―	-38.06%	-50.14%

Maxlinear Corporate Events

MaxLinear Announces $75 Million Share Buyback Plan

On November 20, 2025, MaxLinear, Inc.’s board of directors approved a share repurchase program authorizing the buyback of up to $75 million of its common stock by November 20, 2028. This initiative reflects the company’s confidence in its long-term growth prospects and commitment to enhancing stockholder value, as it continues to focus on expanding its product offerings in data center optical interconnects, wireless infrastructure, and other key areas.