MXL Stock Surges On Stellar Quarter

Shares of MaxLinear Inc. (MXL) are soaring over 14% Thursday morning, after the company reported strong Q1 results and issued upbeat Q2 revenue guidance.

The stock, which has been trading in the range of $31.76 - $77.89 for the past one year, is currently trading at $50.38, up $6.39 or 14.54%, with trading volume of over 417K versus an average volume of 592K shares.

Q1 Results

The company's Q1 net income was $33.6 million or $0.42 per share compared to $3.80 million or $0.05 per share last year.

Non-GAAP net income totaled $80.2 million or $1.00 per share, a jump from the previous year's $43.3 million or $0.55 per share.

Net revenue for the quarter soared to $263.9 million from $209.4 million generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.91 per share on revenue of $263.93 million for the quarter. Analysts' estimates typically exclude certain special items.

Q2 Outlook

For the second quarter of fiscal 2022, the company expects revenue to be about $275 million - $285 million. Eleven Wall Street analysts have a consensus revenue estimate of $264.31 million for the quarter.

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