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Stock Alert: MaxLinear Shares Gains 13%

MaxLinear, Inc. (MXL) shares are increasing more than 11 percent on Tuesday morning after it raised revenue guidance for the second quarter.

The provider of radio frequency, analog and mixed-signal integrated circuits for the connected homes now expect second-quarter preliminary total revenue of around $65 million to $65.5 million, up from $60 to $64 million it projected in April.
Analysts on average are looking for revenue of $61.85 million.

The company noted that work from the home environment has strongly helped them in the growth of the connected home business. Bandwidth demand at home was higher and infrastructure businesses also experienced meaningful improvements compared to the previous period. MaxLinear plans to report second-quarter results, as well as an outlook for the third quarter on July 23.

MXL shares are currently at $24.86, up 13.64 percent from its previous close of $21.88.

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