This transaction was disclosed in a filing with the Securities and Exchange Commission, which also noted that the current shareholding includes 385 shares acquired through MaxLinear's 2010 Employee Stock Purchase Plan and an additional 892 shares previously omitted from past filings due to a clerical error. Discover more insights about MXL and access detailed financial analysis through InvestingPro, which offers 12 additional investment tips and comprehensive research reports for informed decision-making. Discover more insights about MXL and access detailed financial analysis through InvestingPro, which offers 12 additional investment tips and comprehensive research reports for informed decision-making.
This transaction was disclosed in a filing with the Securities and Exchange Commission, which also noted that the current shareholding includes 385 shares acquired through MaxLinear's 2010 Employee Stock Purchase Plan and an additional 892 shares previously omitted from past filings due to a clerical error.
In other recent news, MaxLinear has reported a slight revenue increase in Q3 2024, reaching $81.1 million with a non-GAAP gross margin of 58.7%. The company forecasts Q4 2024 revenue to be between $80 million and $100 million, with a GAAP gross margin expected to be between 54% and 57% and non-GAAP gross margin between 57.5% and 60.5%. In the same vein, Craig-Hallum analyst revised the stock price target for MaxLinear, reducing it to $25.00 from the previous $28.00, but sustained a Buy rating. The analyst expressed confidence that MaxLinear is on track to reach a C25 earnings per share (EPS) exit run-rate close to $1.00.
In other developments, MaxLinear announced the upcoming departure of its Vice President and General Manager of the Broadband Group, William G. Torgerson. The company expects Torgerson to continue in his role until March 31, 2025, to assist with the transition. MaxLinear does not intend to seek a direct replacement for Torgerson, with his duties anticipated to be absorbed by other members of the existing management team. These are the recent developments in MaxLinear's ongoing operations and strategic initiatives to navigate a complex market.
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