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Stock Alert: MaxLinear Shares Gain 10%

MaxLinear, Inc. (MXL) shares are rising as the company completed the acquisition of Intel's Home Gateway Platform Division, an all cash, asset transaction valued $150 million. Further, MaxLinear said it now expects to add around $80 million to $90 million quarterly revenue from the acquisition in the first quarter. Earlier, the company was projecting revenue of $60 to $70 million. The acquisition will be accretive to MXL's adjusted earnings.

The provider of radio frequency, analog and mixed-signal integrated circuits for the connected home, industrial and multimarket applications had announced the acquisition in April and the deal was funded by $175 million term loan facility.

Currently, MXL is trading at $27.92, up 9.98 percent from its previous close of $25.35.

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