MaxLinear, Inc. (MXL)

MaxLinear, Inc. Stock (MXL) dropped by 21.96% from $18.40 to $14.36 in the trading on Thursday October 26, 2023. The reason why MXL stock down today include:

• Q3 earnings result: MaxLinear posted sales and earnings performance that fell far short of the market's expectations.MaxLinear reported adjusted earnings per share of $0.02 on sales of $135.5 million. While the average analyst estimate had guided for the company to record adjusted earnings of $0.04 per share on sales of $139.77 million. The disappointment figures are due to weak demand and headwinds stemming from high inventory levels.
• Uninspiring guidance: For the Q4, MaxLinear is guiding for sales to come in between $115 million and $135 million. On a sequential basis, the midpoint of its target range suggests a roughly 7.7% sales decline.
• Downgrade from the analyst: Roth Capital downgraded the shares to Neutral from Buy following the company's Q3 results which missed estimates.

Shares of MaxLinear, Inc (MXL) dropped by 5.50% from $19.47 to $18.40 in the trading on Wednesday, October 25, 2023. The reason why MXL stock down is due to its disappointed third-quarter report, with earnings and revenue both falling short of expectations. The company's revenue of $276.45 million for the quarter missed the Zacks Consensus Estimate by 3.27%, and it was also lower than the previous year's revenue of $285.73 million. MaxLinear has only exceeded consensus revenue estimates once in the last four quarters.

MaxLinear, Inc. (MXL) shares dropped nearly 24% to $22.55 in pre-market after the company posted downbeat second-quarter sales and issued weak sales guidance. Additionally, Craig-Hallum downgraded the previous rating for MXL from Buy to Hold.

https://www.benzinga.com/analyst-ratings/upgrades/23/07/33422933/benzingas-top-ratings-upgrades-downgrades-for-july-27-2023

MaxLinear, Inc. (MXL) shares dropped 12.91% to $29.61 following a report suggesting China approval of the company's Silicon Motion merger. China's State Administration for Market Regulation finally granted conditional approval earlier today after completing its own anti-monopoly review.

https://www.fool.com/investing/2023/07/26/why-maxlinear-stock-plunged-while-silicon-motion-t/