MaxLinear, Inc. (MXL) Stock Price & Analysis
MaxLinear, Inc. (MXL) closed at USD 65.28 on Thursday, October 22, 2026, down 13.87% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 75.79; the Oct 22, 2026 session ranged USD 63.49–71.6 on volume of 5,244,680 shares. Market capitalization is $5.92B, with a 52-week range of USD 12.77–128.3 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MXL.md
Key facts (MXL)
- Last four reported quarters (through Sep 30, 2026): revenue $661M, net income -$29.4M (-4.4% margin), free cash flow -$20.6M (SEC filings).
- 1 of 80 tracked superinvestors hold MXL (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 9 Form 4 filings, $59.3M; 8 not under a Rule 10b5-1 plan ($58.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.27 on a 1–5 scale) (11 analysts), mean target USD 93.91 (range 40–125).
- Total return with dividends: 1Y +272.6% vs S&P 500 +14.9%; 5Y +23.5% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 0.78, revenue estimate $231M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MXL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $892M | $1.12B | $693M | $361M | $468M | $661M |
| Gross profit | $496M | $650M | $386M | $195M | $266M | — |
| Operating income | $65.2M | $180M | -$38.2M | -$223M | -$127M | -$6.1M |
| Net income | $42.0M | $125M | -$73.1M | -$245M | -$137M | -$29.4M |
| EPS (diluted) | $0.53 | $1.55 | -$0.91 | -$2.93 | -$1.58 | — |
| Free cash flow | $129M | $347M | $29.9M | -$63.0M | $7.0M | -$20.6M |
| Gross margin | 55.6% | 58.0% | 55.6% | 54.0% | 56.8% | — |
| Operating margin | 7.3% | 16.1% | -5.5% | -62.0% | -27.1% | -0.9% |
| Net margin | 4.7% | 11.2% | -10.6% | -68.0% | -29.2% | -4.4% |
| Revenue growth | +86.5% | +25.5% | -38.1% | -48.0% | +29.7% | — |
| Cash + short-term investments | $131M | $206M | $187M | — | — | — |
| Total debt | $306M | $122M | $122M | $123M | $124M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (MXL)
P/S 9.0x · EV/EBITDA 185.9x · EV/Sales 9.1x · P/B 11.1x · FCF yield -0.35% · Earnings yield -0.50% · Net debt $83.0M · EV $6.00B
Superinvestors (SEC 13F-HR, Q2 2026) (MXL)
1 of 80 tracked investors hold MXL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.01% | $693K | New position |
Insider sales (SEC Form 4, open-market, last ~7 months) (MXL)
1 of 9 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-14…2026-08-17 | Seendripu Kishore | Chairman, President and CEO | 591,454 | $50.4M | 39% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-26 | Pardun Thomas E | Director | 11,000 | $1.2M | 14% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-08 | Kwong Connie H. | Corporate Controller & PAO | 35,000 | $3.4M | 71.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-01…2026-05-05 | Tewksbury Ted L Iii | Director | 10,660 | $839K | 11.7% | Yes (adopted June 2, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-04 | Beaver Carolyn | Director | 6,000 | $462K | 15.3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-04 | Moyer Albert J | Director | 15,741 | $1.2M | 17.8% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-04 | Artusi Daniel A | Director | 10,500 | $826K | 37.7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-29 | Kwong Connie H. | Corporate Controller & PAO | 4,118 | $239K | 7.8% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-04-27 | Kwong Connie H. | Corporate Controller & PAO | 15,050 | $772K | 22.1% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (MXL)
Consensus Buy (mean 2.27 on a 1–5 scale), 11 analysts; mean target USD 93.91 (low 40, high 125).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Wells Fargo | Target lowered | Equal-Weight | $95 → $78 |
| 2026-07-24 | Roth Capital | Target raised | Buy | $60 → $100 |
| 2026-07-24 | Wells Fargo | Target raised | Equal-Weight | $75 → $95 |
| 2026-07-24 | Stifel | Target raised | Buy | $110 → $120 |
| 2026-07-24 | Susquehanna | Target raised | Neutral | $45 → $80 |
| 2026-07-24 | Needham | Target raised | Buy | $60 → $100 |
| 2026-07-20 | Wells Fargo | Target raised | Equal-Weight | $42 → $75 |
| 2026-06-29 | Stifel | Target raised | Buy | $105 → $110 |
Total return (dividends reinvested) (MXL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +272.6% | +23.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +274.3% | +4.3% |
| Volatility (annualized) | 116.5% | 81.0% |
| Max drawdown | -55.3% (Jun 2026→Jul 2026) | -87.7% (Dec 2021→Mar 2025) |
MXL revenue by product line (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Infrastructure | $124.9M | 57.3% | +209.6% |
| Broadband | $53.3M | 24.5% | -8.4% |
| Connectivity | $24.7M | 11.3% | +30.3% |
| Industrial and multi-market | $15.1M | 6.9% | +69.3% |
| Total revenue | $218.1M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
MXL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | TSMC (TSM) | “Our key foundry partners include Taiwan Semiconductor Manufacturing Corporation, or TSMC, in Taiwan, and United Microelectronics Corporation, or UMC, in Taiwan and Singapore.” |
| Supplier | United Microelectronics (UMC) | “Our key foundry partners include Taiwan Semiconductor Manufacturing Corporation, or TSMC, in Taiwan, and United Microelectronics Corporation, or UMC, in Taiwan and Singapore.” |
| Supplier | ASE Technology (ASX) | “The majority of our assembly/packaging and test requirements are supported by the following independent subcontractors: Advanced Semiconductor Engineering, or ASE, Greatek Electronics, Inc., Signetics Corporation, SIGURD Microelectronics Corp., and Silicon Precision Industries.” |
| Supplier | Greatek Electronics | “The majority of our assembly/packaging and test requirements are supported by the following independent subcontractors: Advanced Semiconductor Engineering, or ASE, Greatek Electronics, Inc., Signetics Corporation, SIGURD Microelectronics Corp., and Silicon Precision Industries.” |
| Supplier | Signetics | “The majority of our assembly/packaging and test requirements are supported by the following independent subcontractors: Advanced Semiconductor Engineering, or ASE, Greatek Electronics, Inc., Signetics Corporation, SIGURD Microelectronics Corp., and Silicon Precision Industries.” |
| Supplier | SIGURD Microelectronics | “The majority of our assembly/packaging and test requirements are supported by the following independent subcontractors: Advanced Semiconductor Engineering, or ASE, Greatek Electronics, Inc., Signetics Corporation, SIGURD Microelectronics Corp., and Silicon Precision Industries.” |
| Customer | Liberty Global Ltd. (LBTYA) | “Even if we succeed, additional testing and operational certifications will be required by the OEMs' customers, which include large Pay-TV television companies such as Comcast Corporation, Liberty Global plc, Charter Communications, Inc., Sky UK Limited, AT&T Inc. and EchoStar Corporation.” |
| Customer | Charter Communications | “Even if we succeed, additional testing and operational certifications will be required by the OEMs' customers, which include large Pay-TV television companies such as Comcast Corporation, Liberty Global plc, Charter Communications, Inc., Sky UK Limited, AT&T Inc. and EchoStar Corporation.” |
| Customer | Sky UK | “Even if we succeed, additional testing and operational certifications will be required by the OEMs' customers, which include large Pay-TV television companies such as Comcast Corporation, Liberty Global plc, Charter Communications, Inc., Sky UK Limited, AT&T Inc. and EchoStar Corporation.” |
| Customer | AT&T (T) | “Even if we succeed, additional testing and operational certifications will be required by the OEMs' customers, which include large Pay-TV television companies such as Comcast Corporation, Liberty Global plc, Charter Communications, Inc., Sky UK Limited, AT&T Inc. and EchoStar Corporation.” |
| Customer | EchoStar CORP (ECHO) | “Even if we succeed, additional testing and operational certifications will be required by the OEMs' customers, which include large Pay-TV television companies such as Comcast Corporation, Liberty Global plc, Charter Communications, Inc., Sky UK Limited, AT&T Inc. and EchoStar Corporation.” |
| Partner | Intel (INTC) | “For example, according to their websites, four of our largest manufacturing partners, ASE, Intel, TSMC, and UMC, each maintain well-developed environmental management and sustainability programs that are publicly avowed and supported by the highest levels of management within those organizations and have either set targets to reach net zero greenhouse gas emissions, or otherwise reduce such emissions, including in…” |
| Competitor | Comcast (CMCSA) | “Comcast then worked with our competitor to develop the FDX-amplifier technology.” |
| Competitor | Broadcom (AVGO) | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| Competitor | Qualcomm (QCOM) | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| Competitor | MediaTek | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| Competitor | Texas Instruments (TXN) | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| Competitor | Analog Devices (ADI) | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
| Competitor | Microchip Technology (MCHP) | “Our primary merchant semiconductor competitors include Broadcom, Inc., Qualcomm Incorporated, Realtek Semiconductor Corp., Skyworks Solutions, Inc., Credo Semiconductor Inc., MediaTek, Inc., Marvell Technology Group Ltd., MACOM Technology Solutions Holdings, Inc., Texas Instruments Incorporated, Analog Devices, Inc., Renesas Electronics Corporation, Microchip Technology Inc. and Semtech Corporation.” |
Quoted from the company's 10-K filed Jan 29, 2026.
MXL customer concentration
In the period ended Sep 30, 2026, a single direct customer accounted for 10% of revenue, per the company's 10-Q filed Oct 22, 2026. The company does not name it.
MXL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $0.78 | $0.61 | +28.8% | $230.6M | 1 |
| Next quarter (ends Mar 2027) | $0.62 | $0.56 | +11.2% | $238.9M | 10 |
| Current fiscal year (ends Dec 2026) | $2.00 | $1.75 | +14.3% | $749.7M | 1 |
| Next fiscal year (ends Dec 2027) | $2.84 | $2.58 | +9.9% | $1.01B | 11 |
MXL options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 126.8% | ±29.8% |
| Dec 18, 2026 | 56 | 109.3% | ±35.3% |
| Jan 15, 2027 | 84 | 103.4% | ±40.7% |
| Mar 19, 2027 | 147 | 100.8% | ±51.8% |
| Jun 17, 2027 | 237 | 98.9% | ±63.7% |
30-day implied volatility 125.5% vs 117% realized over the last 30 trading days. Put/call ratio (volume) 1.05. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 65.28 |
|---|---|
| Change | ▼ 13.87% (down) |
| Previous Close | USD 75.79 |
| Open | USD 71.02 |
| Day Range | USD 63.49 – 71.6 |
| 52-Week Range | USD 12.77 – 128.3 |
| Volume | 5,244,680 shares |
| Market Cap | $5.92B |
| Exchange | NMS |
Technical Analysis (MXL)
Nexqual's technical model rates MXL "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 38.92 (neutral) |
| vs SMA50 | Below (USD 77.83) |
| MACD | -2.53 (negative) |
Analyst Ratings (MXL)
Wall Street analysts rate MXL "Buy" based on 11 analysts, with a mean price target of USD 93.91 (range USD 40–125), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 11 |
| Mean Target | USD 93.91 |
| High Target | USD 125 |
| Low Target | USD 40 |
| Buy / Hold / Sell | 7 / 4 / 0 |
Earnings (MXL)
| Next Earnings Date | 2026-10-22 |
|---|---|
| EPS Estimate | USD 0.78 |
| Revenue Estimate | $230.62M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 0.62 vs est 0.56 ▲ beat |
| 2026-06-30 | USD 0.35 vs est 0.33 ▲ beat |
| 2026-03-31 | USD 0.22 vs est 0.18 ▲ beat |
| 2025-12-31 | USD 0.19 vs est 0.18 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (MXL)
| Total Revenue | $568.93M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +55.20% |
| Gross Margin | +57.48% |
| Operating Margin | -2.44% |
| Profit Margin | -18.24% |
| ROE | -21.32% |
| Debt / Equity | 0.31 |
| Current Ratio | 1.78 |
| Total Cash | $64.81M |
| Total Debt | $148.20M |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | -$20.62M (-3.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financial Health Score (MXL)
Nexqual rates MaxLinear, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:48 UTC.
| Growth | Strong — Revenue +30% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 57%, operating -2% (last 12 months) |
| Balance Sheet | Solid — $81M cash and investments vs $164M debt (Sep 2026, SEC) |
| Cash Flow | Weak — FCF negative: -$21M (last 4 quarters to Sep 2026, SEC), burning cash |
| Efficiency | Critical — ROE -21%, ROA -4.9% |
Ownership (MXL)
| Insider Ownership | +5.87% |
|---|---|
| Institutional Ownership | +84.30% |
| Shares Outstanding | 90.69M |
| Float | 85.22M |
| Short % of Float | +7.54% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Leadership (MXL)
MaxLinear, Inc. is led by Kishore Seendripu, Co-Founder, Chairman, CEO & President, per Nexqual as of October 23, 2026 at 09:48 UTC.
| Co-Founder, Chairman, CEO & President | Kishore Seendripu |
|---|---|
| CFO & Chief Corporate Strategy Officer | Steven G. Litchfield |
| Senior Vice President of Global Operations | Mohan Kambhammettu |
| Senior Vice President of Sales | Michael Bollesen |
| Senior Vice President of Worldwide Engineering | Madhukar Reddy |
Major Backers & Investors (MXL)
Notable institutional backers of MaxLinear, Inc. include Price (T.Rowe) Associates Inc, JPMorgan, Invesco, according to Nexqual as of October 23, 2026 at 09:48 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Price (T.Rowe) Associates Inc | 3.81% |
| JPMorgan | 3.7% |
| Invesco | 3.51% |
| Jane Street Group, LLC | 3.5% |
| Shaw D.E. & Co., Inc. | 3.18% |
| Fidelity | 1.62% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 23.44% |
| Vanguard Group | 18.38% |
| State Street | 7.4% |
| Geode Capital | 3.81% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From MaxLinear, Inc.'s Latest SEC 10-K Filing (filed 2026-01-29)
Key Strengths & Strategy (as disclosed to the SEC)
- Our success and ability to compete depends, in part, upon our ability to establish and adequately protect our proprietary technology and confidential information.
- We also protect our proprietary technology and confidential information through the use of internal and external controls, including contractual protections with employees, contractors, business partners, consultants and advisors.
- Our firmware design capability is critical to the ease of use of our products in end customer platforms. •Architecture and system design for highly integrated end-to-end communication platform solutions: Our novel design techniques tradeoff individual signal path circuit level performance to optimize the overall system performance.
- Our ability to design analog and mixed-signal circuits in complementary metal-oxide-semiconductors, or CMOS, allows us to efficiently combine analog functionality and complex digital signal processing logic in the same integrated circuit.
Legal & Regulatory Risks (Item 1A, quoted)
- The termination of the Merger Agreement and the related legal proceedings have caused us to incur substantial costs, may divert management's attention from our business and could otherwise adversely affect our business, financial results and operations.
- Any legal proceedings or claims against us or potential violations of applicable regulations could be costly and time-consuming to defend and could harm our reputation regardless of the outcome.
- We are subject to governmental laws, regulations and other legal obligations related to privacy, data protection, and cybersecurity, and any inability of us to comply with such obligations may negatively impact our business.
- We have settled in the past intellectual property litigation and may in the future face additional claims of intellectual property infringement, including indemnification claims based on intellectual property allegations. Any current or future litigation could be time-consuming, costly to prosecute, defend or settle and result in damages and/or the loss of significant rights.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ALGM | Allegro MicroSystems, Inc. | USD 31.69 | ▼ 8.17% |
| CRUS | Cirrus Logic, Inc. | USD 110.49 | ▼ 0.14% |
| SIMO | Silicon Motion Technology Corpo | USD 187.96 | ▼ 15.45% |
| PI | Impinj, Inc. | USD 162.7 | ▼ 9.01% |
| SLAB | Silicon Laboratories, Inc. | USD 221.12 | ▼ 0.27% |
| SYNA | Synaptics Incorporated | USD 117.04 | ▼ 0.39% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt