NYSE:MXL

Stock Analysis Report

Executive Summary

MaxLinear, Inc. provides radio-frequency (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.


Snowflake Analysis

Mediocre balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has MaxLinear's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MXL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

14.0%

MXL

3.5%

US Semiconductor

5.3%

US Market


1 Year Return

-56.2%

MXL

3.6%

US Semiconductor

-10.7%

US Market

Return vs Industry: MXL underperformed the US Semiconductor industry which returned 3.6% over the past year.

Return vs Market: MXL underperformed the US Market which returned -10.7% over the past year.


Shareholder returns

MXLIndustryMarket
7 Day14.0%3.5%5.3%
30 Day-23.7%-11.4%-13.6%
90 Day-45.9%-16.2%-19.8%
1 Year-56.2%-56.2%5.6%3.6%-8.9%-10.7%
3 Year-57.8%-57.8%51.2%42.8%15.5%8.0%
5 Year37.2%37.2%108.8%88.7%35.2%20.4%

Price Volatility Vs. Market

How volatile is MaxLinear's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MaxLinear undervalued compared to its fair value and its price relative to the market?

2.02x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: MXL ($11.66) is trading above our estimate of fair value ($6.75)

Significantly Below Fair Value: MXL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MXL is unprofitable, so we can't compare its PE Ratio to the Semiconductor industry average.

PE vs Market: MXL is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MXL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MXL is good value based on its PB Ratio (2x) compared to the US Semiconductor industry average (2.3x).


Next Steps

Future Growth

How is MaxLinear forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

30.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MXL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: MXL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MXL's is expected to become profitable in the next 3 years.

Revenue vs Market: MXL's revenue (4.1% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: MXL's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MXL's Return on Equity is forecast to be low in 3 years time (0.9%).


Next Steps

Past Performance

How has MaxLinear performed over the past 5 years?

-11.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MXL is currently unprofitable.

Growing Profit Margin: MXL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MXL is unprofitable, and losses have increased over the past 5 years at a rate of -11.5% per year.

Accelerating Growth: Unable to compare MXL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MXL is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (-30.5%).


Return on Equity

High ROE: MXL has a negative Return on Equity (-4.8%), as it is currently unprofitable.


Next Steps

Financial Health

How is MaxLinear's financial position?


Financial Position Analysis

Short Term Liabilities: MXL's short term assets ($181.8M) exceed its short term liabilities ($66.6M).

Long Term Liabilities: MXL's short term assets ($181.8M) do not cover its long term liabilities ($224.3M).


Debt to Equity History and Analysis

Debt Level: MXL's debt to equity ratio (49.9%) is considered high.

Reducing Debt: Insufficient data to determine if MXL's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: MXL has a low level of unsold assets or inventory.

Debt Coverage by Assets: MXL's debt is not covered by short term assets (assets are 0.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable MXL has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: MXL is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.9% per year.


Next Steps

Dividend

What is MaxLinear's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MXL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MXL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MXL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MXL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MXL's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.0yrs

Average management tenure


CEO

Kishore Seendripu (50yo)

16.58s

Tenure

US$4,104,632

Compensation

Dr. Kishore Seendripu is a co-founder and has served as Chairman, President, and Chief Executive Officer of MaxLinear, Inc. since inception in September 2003 and also serves as a director. From July 1998  ...


CEO Compensation Analysis

Compensation vs Market: Kishore's total compensation ($USD4.10M) is about average for companies of similar size in the US market ($USD3.17M).

Compensation vs Earnings: Kishore's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Kishore Seendripu
Co-Founder16.58yrsUS$4.10m5.64% $47.3m
Steven Litchfield
CFO & Chief Corporate Strategy Officer1.75yrsUS$3.76m0.084% $709.0k
Michael Bollesen
Vice President of Sales1.75yrsUS$1.61m0.025% $206.5k
Madhukar Reddy
Vice President Of IC & RF Systems Engineering13.42yrsUS$1.37m0.57% $4.7m
Curtis Ling
Co-Founder & Chief Technical Officerno dataUS$961.56k1.35% $11.3m
Michael Lachance
Vice President of Operations8.42yrsUS$1.94m0.035% $290.5k
Connie Kwong
Corporate Controller & Principal Accounting Officer4.17yrsno data0.021% $179.5k
Brian Nugent
Head-Investor Relationsno datano datano data
Kathi Guiney
Vice President of Human Resources8.42yrsno datano data
Brendan Walsh
Vice President of Marketing Infrastructure5.58yrsUS$422.63k0.24% $2.0m

7.0yrs

Average Tenure

50yo

Average Age

Experienced Management: MXL's management team is seasoned and experienced (7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kishore Seendripu
Co-Founder16.58yrsUS$4.10m5.64% $47.3m
Donald Schrock
Independent Director10.5yrsUS$237.50k0.073% $613.3k
Gregory Dougherty
Director0.083yrno datano data
Albert Moyer
Independent Director10.5yrsUS$250.00k0.076% $638.4k
Thomas Pardun
Lead Director10.42yrsUS$272.50k0.092% $773.1k
Daniel Artusi
Independent Director1.42yrsUS$240.53k0.0090% $75.4k
Carolyn Beaver
Independent Director1.33yrsUS$238.25k0.0084% $70.5k
Theodore Tewksbury
Independent Director4.92yrsUS$239.58k0.057% $476.2k

7.7yrs

Average Tenure

63.5yo

Average Age

Experienced Board: MXL's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.7%.


Top Shareholders

Company Information

MaxLinear, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MaxLinear, Inc.
  • Ticker: MXL
  • Exchange: NYSE
  • Founded: 2003
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$839.622m
  • Shares outstanding: 71.95m
  • Website: https://www.maxlinear.com

Number of Employees


Location

  • MaxLinear, Inc.
  • 5966 La Place Court
  • Suite 100
  • Carlsbad
  • California
  • 92008
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MXLNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2010
JMXDB (Deutsche Boerse AG)YesCommon StockDEEURMar 2010

Biography

MaxLinear, Inc. provides radio-frequency (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. The company offers various semiconductor products, such as RF receivers and RF receiver SoCs, wireless infrastructure backhaul RF receivers and modem SoCs, laser modulator drivers, transimpedance amplifiers, clock and data recovery circuits, interface solutions, power management products, and data encryption and compression products. Its products are used in a range of electronic devices, including cable DOCSIS broadband modems and gateways, wireline connectivity devices for in-home networking applications, RF transceivers and modems, fiber-optic modules, video set-top boxes and gateways, hybrid analog and digital televisions, direct broadcast satellite outdoor and indoor units, and power management and interface products. The company sells its products to electronics distributors, module makers, original equipment manufacturers, and original design manufacturers through direct sales force, third party sales representatives, and a network of distributors. MaxLinear, Inc. was founded in 2003 and is headquartered in Carlsbad, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 01:54
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.