Advertisement

Why MaxLinear Stock Just Popped 12%

Why MaxLinear Stock Just Popped 12%

Shares of semiconductor maker MaxLinear (NYSE: MXL) are on a tear Thursday, up 12% in 11:40 a.m. EDT trading after the company preannounced Q3 2020 financial results this morning. Heading into Q3, analysts forecast that MaxLinear will report $0.15 per share in profits on $126.1 million in sales for the quarter -- far more than the $72 million to $76 million in sales that MaxLinear last suggested it might collect in its Q3 guidance. In today's report, MaxLinear gives its preliminary estimate that Q3 sales totaled somewhere between $155 million and $157 million.