MaxLinear Analysts Cut Their Forecasts After Q2 Loss
Portfolio Pulse from Avi Kapoor
MaxLinear, Inc. (NASDAQ:MXL) reported worse-than-expected Q2 financial results, leading to a significant drop in share price and multiple analysts cutting their price targets. The company reported a quarterly loss of 25 cents per share and sales of $91.990 million, both missing analyst estimates. MaxLinear's Q3 revenue guidance also fell short of expectations.
July 25, 2024 | 5:53 pm
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MaxLinear reported a Q2 loss of 25 cents per share and sales of $91.990 million, missing analyst estimates. The company provided Q3 revenue guidance below expectations, leading to a 30.5% drop in share price. Multiple analysts cut their price targets.
The significant miss on both EPS and revenue, coupled with lower-than-expected Q3 guidance, has led to a sharp decline in MaxLinear's share price. Multiple analysts have also cut their price targets, indicating a negative short-term outlook.
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