MaxLinear, Inc.
- Open
- 61.84
- Day high
- 62.16
- Day low
- 59.17
- Prev close
- 61.73
- Volume
- 2.4M
- Mkt cap
- $5.4B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 11.2
- P/S
- 9.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$50.4M over the last 3 months (0 open-market buys, 16 sales)
- 🏛Institutions accumulating (13F)
MaxLinear, Inc. (MXL) is a Technology company listed on NASDAQ. The stock is up 285% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 16 sales (SEC Form 4).
MaxLinear, Inc. (MXL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MXL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.33 | $0.35 | +6.3% | $169M | +2.9% |
| Apr 23, 2026 | $0.18 | $0.22 | +22.2% | $137M | +2.0% |
| Jan 29, 2026 | $0.18 | $0.19 | +5.6% | $136M | +5.5% |
| Oct 23, 2025 | $0.12 | $0.14 | +16.7% | $126M | -6.0% |
| Jul 23, 2025 | $0.02 | $0.02 | +0.0% | $109M | -7.1% |
| Apr 23, 2025 | $-0.05 | $-0.05 | +0.0% | $96M | -7.7% |
| Jan 29, 2025 | $-0.13 | $-0.09 | +30.8% | $92M | +2.4% |
| Oct 23, 2024 | $-0.32 | $-0.36 | -12.5% | $81M | -9.7% |
| Jul 24, 2024 | $-0.20 | $-0.25 | -25.0% | $92M | -8.0% |
| Jan 31, 2024 | $0.01 | $0.01 | +28.5% | $125M | +0.2% |
| Oct 25, 2023 | $0.04 | $0.02 | -45.9% | $136M | -2.7% |
| Jul 26, 2023 | $0.33 | $0.34 | +3.0% | $184M | -3.3% |
MXL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 5,742 | $84.86 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 71,163 | $86.47 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 77,501 | $84.54 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 13,289 | $87.11 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 36,743 | $83.31 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 72,298 | $86.49 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 3,903 | $88.16 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 77,515 | $84.84 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 17,766 | $84.63 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 6,536 | $84.87 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 13,919 | $87.12 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 19,373 | $84.65 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 68,482 | $85.44 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 68,976 | $85.43 |
| Aug 18, 2026 | SEENDRIPU KISHOREdirector, 10 percent owner, officer: Chairman, President and CEO | Sell | 35,963 | $83.31 |
Source: MXL SEC Form 4 filings, latest Aug 18, 2026. For informational purposes only — not investment advice.
See the full MXL insider & 13F page →MaxLinear, Inc. company profile
Overview
MaxLinear, Inc. (NASDAQ:MXL) is a semiconductor company founded in 2003 and headquartered in Carlsbad, California. The company went public in March 2010 and has evolved from a startup focused on radio frequency solutions into a diversified provider of high-performance analog and mixed-signal communications systems-on-chip (SoCs). MaxLinear serves the connected home, wired and wireless infrastructure, and industrial markets through a portfolio of integrated semiconductor solutions that enable high-speed data transmission and connectivity across various electronic devices and networks.
Business
MaxLinear operates in the semiconductor industry, specifically designing and manufacturing radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip (SoCs). These are specialized computer chips that integrate multiple functions needed for high-speed data communication into a single piece of silicon. Think of these chips as the "brains" that enable devices to send and receive data at very high speeds - whether that's streaming video to your home, connecting cell phone towers to the internet backbone, or enabling data centers to communicate internally. The company's products are essential components in the infrastructure that powers modern digital communications. They integrate various critical functions including RF signal processing (handling radio waves), data conversion (translating between analog and digital signals), digital signal processing, security features, data compression, networking protocols, and power management - all on a single chip. MaxLinear's business is organized into four main segments: 1. Broadband segment (approximately 30-35% of revenue): Provides chips for cable modems, fiber-optic gateways, and DSL equipment that deliver internet service to homes and businesses. These products support standards like DOCSIS (cable internet), PON (fiber internet), and various broadband access technologies. 2. Infrastructure segment (approximately 25-30% of revenue): Supplies semiconductors for wireless base stations, data center optical interconnects, and backhaul equipment that forms the backbone of telecommunications networks. This includes 5G wireless infrastructure and high-speed optical connections within data centers. 3. Connectivity segment (approximately 20-25% of revenue): Focuses on Wi-Fi chips for routers, gateways, and access points, including the latest Wi-Fi 6, 6E, and Wi-Fi 7 standards that enable high-speed wireless networking in homes and enterprises. 4. Industrial and Multi-Market segment (approximately 15-20% of revenue): Serves various industrial applications including storage accelerators, enterprise Ethernet solutions, and power management products for diverse end markets.
Revenue model
MaxLinear generates revenue primarily through product sales of its semiconductor chips to electronics manufacturers. The company operates a fabless business model, meaning it designs the chips but outsources the actual manufacturing to specialized foundries. This approach allows MaxLinear to focus on high-value design and engineering while leveraging the manufacturing scale of foundry partners. The company's paying customers include original equipment manufacturers (OEMs) like cable modem manufacturers, router makers, and telecommunications equipment vendors, as well as original design manufacturers (ODMs) and electronics distributors. MaxLinear sells through a combination of direct sales teams, third-party sales representatives, and distributor networks. Revenue is generated when customers purchase MaxLinear's chips to incorporate into their end products. The company typically operates on standard semiconductor industry terms, with customers placing orders based on their production forecasts and inventory needs. Several factors significantly impact MaxLinear's margins and profitability. Positive margin drivers include the company's focus on high-performance, differentiated products that command premium pricing, particularly in emerging areas like optical data center interconnects and Wi-Fi 7 solutions. The integration of multiple functions onto single chips creates value for customers and supports higher margins. Additionally, design wins with major customers can provide volume leverage and better pricing power. Negative margin pressures come from intense competition in the semiconductor industry, particularly from larger players with greater scale. Cyclical downturns in end markets like broadband and wireless infrastructure can lead to inventory corrections and pricing pressure. Supply chain constraints and foundry capacity limitations can increase costs. The company also faces margin pressure from customer concentration, export restrictions affecting certain markets, and the need for continuous R&D investment to stay competitive in rapidly evolving technology standards. The semiconductor industry's cyclical nature means MaxLinear's financial performance is closely tied to broader technology spending cycles, particularly in telecommunications infrastructure and consumer electronics markets.
Competitive moat
MaxLinear's competitive moat is moderate but vulnerable to larger competitors and technological shifts. The company's primary defensive advantages stem from its specialized engineering expertise in high-speed analog and mixed-signal chip design, which creates technical barriers for new entrants. The complexity of integrating multiple functions like RF processing, data conversion, and digital signal processing onto single chips requires deep domain knowledge that takes years to develop. The company benefits from customer switching costs once its chips are designed into customer products, as changing semiconductor suppliers requires significant re-engineering effort and qualification time. MaxLinear has also built relationships with key customers in broadband and infrastructure markets, providing some protection through design win momentum. However, MaxLinear's moat faces significant challenges. The company competes against much larger semiconductor firms like Broadcom, Marvell, and Intel, which have greater R&D resources, manufacturing scale, and customer reach. These competitors can potentially outspend MaxLinear in developing next-generation products and can offer customers broader product portfolios and more favorable terms. The rapid pace of technological change in communications standards (5G, Wi-Fi 7, optical interconnects) means MaxLinear must continuously invest heavily in R&D to remain relevant, but lacks the scale advantages of larger competitors. Additionally, the company's fabless model means it doesn't control manufacturing, limiting its ability to optimize costs or secure supply during shortages. The competitive threat is particularly acute in the company's core markets, where consolidation has created fewer but larger competitors. MaxLinear's position as a mid-sized player makes it vulnerable to being squeezed between larger, more resourced competitors and smaller, more focused niche players. The company's success depends heavily on execution in selecting the right technology bets and winning key design competitions, making its competitive position inherently fragile.
Risks & safety
MaxLinear presents moderate financial risk with concerning profitability trends but adequate liquidity position. • Liquidity and Solvency: Current ratio of 1.63x and cash position of $103 million provide reasonable short-term safety. However, negative free cash flow of -$13.4 million in Q1 2025 and -$68.7 million for full year 2024 indicates cash burn that could become problematic if sustained. • Debt Levels: Debt-to-equity ratio of 0.30x is manageable, indicating moderate leverage without excessive financial risk. • Profitability Concerns: Negative EBITDA of -$46 million in Q1 2025 and -$174 million for full year 2024 shows significant operational challenges. The company has been unprofitable on a GAAP basis for multiple quarters. • Valuation Metrics: With negative earnings, traditional valuation metrics are not meaningful. Price-to-book ratio of 1.88x suggests the stock trades below historical levels but still above tangible book value. • Revenue Decline: Revenue has fallen from over $1.1 billion in 2022 to $361 million in 2024, indicating severe cyclical downturn and market share challenges. • Operational Risk: The company implemented workforce reductions and is targeting 20-25% OpEx cuts, suggesting financial stress but also management action to preserve cash.
Recent development
Over the past few years, MaxLinear has undergone significant strategic transformation driven by market cyclicality and technological evolution. The company experienced a severe revenue decline from over $1.1 billion in 2022 to $361 million in 2024, primarily due to inventory corrections in broadband markets and weakness in wireless infrastructure spending. In response to these challenges, MaxLinear has pivoted toward high-growth, high-value market segments. The most significant development has been the company's entry into the optical data center interconnect market with its Keystone PAM4 DSP products. This business has grown rapidly, with the company shipping approximately 1 million optical transceiver units in 2024 and targeting $60-70 million in revenue for 2025, potentially doubling from the previous year. The company has also made substantial investments in next-generation connectivity solutions, including Wi-Fi 7 platforms, 10G XGS-PON broadband access products, and enterprise Ethernet solutions. The Swan Creek 2.5-gigabit Ethernet product line represents a new growth vector, with management targeting potential revenue of $50-100 million over the next few years. In wireless infrastructure, MaxLinear has developed new 5G and millimeter-wave solutions including the Sierra radio system-on-chip and O-RAN compliant products, positioning for the eventual recovery in wireless CapEx spending. The company has also expanded its storage accelerator portfolio and integrated fiber PON with Wi-Fi 7 capabilities. To address profitability challenges, MaxLinear implemented significant cost reduction measures including workforce reductions and a targeted 20-25% reduction in operating expenses for 2025. The company has focused its R&D investments on the highest-potential opportunities while reducing spending in mature product lines. Management has also worked to diversify the customer base and reduce dependence on any single market segment, while maintaining strong relationships with key customers in broadband and infrastructure markets. The strategic focus has shifted toward becoming a "credible third supplier" in high-value markets where the company can differentiate through low-power, high-integration solutions.
MXL company profile · for informational purposes only — not investment advice.
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