Maxlinear (MXL) AI Stock Analysis

• Market Cap: $1.29B
• Dividend Yield: N/A
• Average Volume (3M): 953.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.19
• Revenue Growth: -33.12%
• EPS Growth: -39.38%
• Country: US
• Employees: 1,294
• Sector: Technology
• Sector Strength: 89
• Industry: Semiconductors
• EPS (TTM): -0.05
• Shares Outstanding: 86,373,820
• 10 Day Avg. Volume: 667,684
• 30 Day Avg. Volume: 953,686
• 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: 1.26
• Enterprise Value/Revenue: 1.04
• Enterprise Value/Gross Profit: 8.20
• Enterprise Value/Ebitda: -2.47
• 1Y Price Target: $13.29
• Price Target Upside: -11.04% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9

• Rating: 55 Neutral
• Price Target: $15.00 ▲(0.40%Upside)

Maxlinear's overall stock score is primarily influenced by its challenging financial performance, marked by declining revenues and profitability issues. While technical analysis indicates positive momentum, the valuation remains unattractive due to negative earnings. The earnings call provides some optimism with expectations of growth and recovery, but significant risks remain.

Positive Factors

Financial Performance

MaxLinear reported slightly better top-line results and guidance, with all segments expected to grow.

Order Strength

Orders have continued to strengthen throughout the quarter with a backlog in place for future deliveries, supporting a path of sustainable growth.

Product Demand

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.

Negative Factors

Competitive Threats

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

End Demand Risks

End demand destruction is seen as the greatest risk, with too many questions remaining unanswered to fully evaluate the potential demand implications.

Tariff Uncertainty

Tariff uncertainty remains a broader market concern, adding complexity and making it difficult to fully assess implications.

Maxlinear Business Overview & Revenue Model

Company Description

MaxLinear, Inc. is a leading provider of radio-frequency (RF), analog, digital, and mixed-signal integrated circuits for broadband communications and data center, metro, and long-haul transport network applications. The company is headquartered in Carlsbad, California, and operates in sectors such as broadband communications, connectivity, and infrastructure. MaxLinear's core products include radio-frequency receivers and tuners, wireless infrastructure backhaul transceivers, interface products, power management products, and high-performance data center interconnects.

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
EBITDA	-169.10M	-173.70M	9.53M	255.86M	145.27M	-29.28M
Net Income	-222.60M	-245.20M	-73.15M	125.04M	41.97M	-98.59M
Balance Sheet
Total Assets	855.28M	864.64M	1.08B	1.18B	1.05B	1.02B
Cash, Cash Equivalents and Short-Term Investments	102.77M	118.58M	187.29M	205.88M	130.57M	148.90M
Total Debt	148.81M	149.36M	157.75M	155.60M	330.79M	384.45M
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: Positive
• Last Price: 14.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 14.94 is above the 20-day moving average (MA) of 13.80, above the 50-day MA of 12.56, and above the 200-day MA of 14.76, indicating a bullish trend. The MACD of 0.74 indicates Negative momentum. The RSI at 68.15 is Neutral, neither overbought nor oversold. The STOCH value of 77.30 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
IMOS	72 Outperform	$662.24M	18.67	4.72%	4.49%	-0.41%	-46.38%
Sector *	69 Neutral	¥228.87B	14.07	7.50%	2.70%	9.25%	8.21%
UCTT	68 Neutral	$1.13B	40.39	3.30%	―	20.20%	―
AOSL	66 Neutral	$834.47M	―	-2.55%	―	3.57%	-134.36%
COHU	63 Neutral	$957.96M	―	-9.87%	―	-30.75%	-3668.44%
ICHR	57 Neutral	$808.98M	―	-2.35%	―	13.41%	72.56%
MXL	55 Neutral	$1.29B	―	-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.