Added to YB: 2026-04-28
Pitch date: 2026-04-26
MXL [neutral]
MaxLinear, Inc.
-15.24%
current return
Author Info
Company Info
MaxLinear, Inc. provides communications systems-on-chip solutions in the United States, Asia, Europe, and internationally.
Market Cap
$5.4B
Pitch Price
$60.94
Price Target
N/A
Dividend
N/A
EV/EBITDA
-194.71
P/E
-39.56
EV/Sales
10.79
Sector
Semiconductors and Semiconductor Equipment
Category
growth
MaxLinear, Inc. (MXL) — Q1 2026 Results
MXL (earnings): Q1 rev $137.2M (+43% YoY), in-line. Real story: Q2 guide $160-170M (+19% QoQ) & 2026 optical DC rev raised to $150-170M (from $100-130M). Rushmore (1.6T) prod ramp pulled into late 2026. Infrastructure now largest segment at ~$63M. Stock +174% in 8 sessions to $60 on AI rerate. At 8.5x FY26 EV/Sales, base case IRR ~14% over 2yr requires flawless execution on Keystone 800G ramp, Rushmore 1.6T share hold vs MRVL/AVGO, 25%+ op margin by FY27, & 28-32x exit P/E. Risks: hyperscaler concentration rising, 1.6T contested, $80M SBC drag, prepayments delaying FCF. Move priced 18-24mo execution; pullback to $45-50 would restore margin for error.
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