NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into MaxLinear, Inc. (NASDAQ: MXL) for potential violations of the federal securities laws. If you invested in MaxLinear, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/maxlinear-inc. Why Did MaxLinear's Stock Drop? MaxLinear provides integrated radio-frequency analog and mixed-signal semiconductor products for broadband co ...

Core Insights - MaxLinear, Inc. is under investigation for potential violations of federal securities laws following a significant drop in stock price after disappointing earnings results [1][2][3] Financial Performance - For Q2 2024, MaxLinear reported net revenue of $92 million, representing a 50% decrease year-over-year, attributed to prolonged burn-off of excess customer inventory leading to weakened demand [2] - The stock price closed at $22.29 per share on July 24, 2024, and dropped to $16.40 per share by the next trading day, marking a decline of $5.89 per share or 26% [3] Legal Context - Bleichmar Fonti & Auld LLP is investigating MaxLinear and encourages investors to seek additional information regarding potential legal options [1][4] - The law firm operates on a contingency fee basis, meaning shareholders are not responsible for court costs or litigation expenses [4] Firm Background - Bleichmar Fonti & Auld LLP is recognized as a leading international law firm specializing in securities class actions and shareholder litigation, with notable recoveries in past cases [5]

NEW YORK, Aug. 10, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into MaxLinear, Inc. (NASDAQ: MXL) for potential violations of the federal securities laws. If you invested in MaxLinear, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/maxlinear-inc. Why Did MaxLinear's Stock Drop? MaxLinear provides integrated radio-frequency analog and mixed-signal semiconductor products for broadband co ...

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into MaxLinear, Inc. (NASDAQ: MXL) for potential violations of the federal securities laws. If you invested in MaxLinear, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/maxlinear-inc. Why Did MaxLinear's Stock Drop? MaxLinear provides integrated radio-frequency analog and mixed-signal semiconductor products for broadband co ...

NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against MaxLinear, Inc. (NASDAQ: MXL) and Domino's Pizza, Inc. (NSYE: DPZ). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided. MaxLinear, Inc. (NASDAQ: MXL) Following the close of the ...

Core Insights - MaxLinear, Inc. is under investigation for potential violations of federal securities laws, which has led to a significant decline in its stock price [2][6]. - The company reported a net revenue of $92 million for Q2 2024, representing a 50% decrease year-over-year, attributed to a prolonged burn-off of excess customer inventory and weakened demand [7]. Group 1: Company Overview - MaxLinear provides integrated radio-frequency analog and mixed-signal semiconductor products for broadband communications applications [3]. Group 2: Stock Performance - Following the announcement of its earnings results on July 24, 2024, MaxLinear's stock price closed at $22.29 per share, dropping from a pre-market trading price of $16.40, a decline of $5.89 per share or 26% [6].

Investment Rating - The report does not explicitly state an investment rating for the company Core Insights - The company has experienced a significant decline in revenue, with Q2 2024 revenue reported at $91.99 million, a decrease of 50% year-over-year and 3% quarter-over-quarter, primarily due to weak broadband demand and a sluggish telecom market [41][63] - The company expects Q3 2024 revenue to be between $70 million and $90 million, with a GAAP gross margin projected at approximately 52.5% to 55.5% [4][32][68] - The company has achieved continuous improvement in orders over the past four quarters, although the recovery has not yet reached expected levels [7] Revenue Breakdown - For Q2 2024, the revenue by segment was as follows: Broadband revenue was $21.83 million, Connectivity revenue was $13.26 million, Infrastructure revenue was $31.79 million, and Industrial and multi-market revenue was $25.11 million [41][66] - The revenue by region for Q2 2024 was: Asia $72.43 million (79%), Europe $11.38 million (12%), United States $7.15 million (9%), and Other regions $1.03 million (1%) [66][67] Future Outlook - The company anticipates that its optical interconnect business will exceed $30 million in revenue this year, driven by ongoing collaborations with major data center clients [71] - The company is optimistic about the demand for PON (Passive Optical Network) market in 2025, particularly with Tier 1 customers [75] - The company plans to reduce non-GAAP operating expenses by approximately 20% to 25% in FY2025 compared to FY2024 [53][105]

NEW YORK, July 25, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into MaxLinear, Inc. (NASDAQ: MXL) for potential violations of the federal securities laws. If you invested in MaxLinear, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/maxlinear-inc. Why Did MaxLinear's Stock Drop? MaxLinear provides integrated radio-frequency analog and mixed-signal semiconductor products for broadband co ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $92 million, down 3% from $95.3 million in the previous quarter [20] - Non-GAAP gross margin for Q2 was 60.2%, while GAAP gross margin was approximately 54.6% [21] - Non-GAAP loss from operations for Q2 2024 was 21% of net revenue [22] - Cash flow used in operating activities was approximately $3 million, with $186 million in cash, cash equivalents, and restricted cash at the end of Q2 [22] Business Line Data and Key Metrics Changes - Broadband revenue for Q2 was $22 million, connectivity revenue was $13 million, infrastructure revenue was $32 million, and industrial multi-market revenue was $25 million [20] - The infrastructure business, particularly high-speed optical interconnect, is expected to exceed $30 million in revenue this year [12] - Revenue in 5G wireless infrastructure grew strongly in Q2 compared to the prior quarter [14] Market Data and Key Metrics Changes - The company is experiencing weakness in broadband demand due to excess customer inventory from the supply chain crisis [9] - Continued softness in telecom markets is noted, impacted by U.S.-China tensions and regulatory compliance [9] - The company expects channel inventory to bottom in the second half of the year [10] Company Strategy and Development Direction - The company is focused on R&D investments in high-value markets, including optical data center interconnect and 5G wireless technologies [10] - The company anticipates strong profitability growth as new products ramp up and R&D spending moderates [10] - The strategy includes optimizing efforts around new opportunities in infrastructure, Ethernet, storage, and Wi-Fi 7 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment over slower business recovery than anticipated but remains confident in resuming growth in 2025 [9] - The company is aligning its cost structure with the current environment, expecting a 20% to 25% reduction in operating expenses for fiscal 2025 [25][26] - Management highlighted the importance of operational efficiency and fiscal discipline while planning for future growth [28] Other Important Information - The company is on track to exceed its optical revenue target range of $10 million to $30 million for 2024 [8] - The company expects Q3 2024 revenue to be between $70 million and $90 million, with GAAP gross margin expected to be approximately 52.5% to 55.5% [24] Q&A Session Summary Question: Impact of shipment restrictions in telecom - Management indicated that the revocation of a government license impacted shipments by approximately $5 million to $8 million in Q2, with a potential impact of $10 million to $15 million in the second half of the year [30][31] Question: Guidance on infrastructure revenue - Management clarified that the weakness in infrastructure revenue is primarily due to wireless infrastructure, while optical is performing well and on track [32][33] Question: Inventory drain and end demand outlook - Management acknowledged that inventory is depleting slower than expected but sees improvements in bookings and inventory levels [36][38] Question: Share loss concerns in broadband and connectivity - Management noted that while there may be some share shifts, the focus remains on new technologies and product transitions that could offset potential losses [42][44] Question: OpEx reduction and spending plans - Management confirmed a planned reduction in operating expenses of 20% to 25% for fiscal 2025, with a focus on maintaining investment in key product areas [53][56] Question: Future revenue drivers and customer base - Management indicated that multiple customers will drive revenues in 2025, with ongoing investments in optical and broadband technologies [91][92]

This quarterly report represents an earnings surprise of -25%. A quarter ago, it was expected that this chipmaker would post a loss of $0.20 per share when it actually produced a loss of $0.21, delivering a surprise of -5%. MaxLinear, which belongs to the Zacks Semiconductor - Analog and Mixed industry, posted revenues of $91.99 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 8.03%. This compares to year-ago revenues of $183.94 million. The company has topped consensus reven ...