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Strength Seen in MaxLinear (MXL): Can Its 7.4% Jump Turn into More Strength?
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MaxLinear (MXL - Free Report) shares ended the last trading session 7.4% higher at $22.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.3% gain over the past four weeks.
MaxLinear extended its rally, driven by solid momentum in multi-band millimeter wave and microwave 5G wireless backhaul platform solutions. Also, strength in Wi-Fi, ethernet, fiber broadband access gateways, and wireless and optical datacenter network infrastructure, remains a positive.
This chipmaker is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -99.1%. Revenues are expected to be $125.06 million, down 57% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For MaxLinear, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MXL going forward to see if this recent jump can turn into more strength down the road.
MaxLinear belongs to the Zacks Semiconductor - Analog and Mixed industry. Another stock from the same industry, Microchip Technology (MCHP - Free Report) , closed the last trading session 3.5% higher at $92.96. Over the past month, MCHP has returned 8.9%.
Microchip Tech's consensus EPS estimate for the upcoming report has changed -2.2% over the past month to $1.13. Compared to the company's year-ago EPS, this represents a change of -27.6%. Microchip Tech currently boasts a Zacks Rank of #5 (Strong Sell).
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Strength Seen in MaxLinear (MXL): Can Its 7.4% Jump Turn into More Strength?
MaxLinear (MXL - Free Report) shares ended the last trading session 7.4% higher at $22.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.3% gain over the past four weeks.
MaxLinear extended its rally, driven by solid momentum in multi-band millimeter wave and microwave 5G wireless backhaul platform solutions. Also, strength in Wi-Fi, ethernet, fiber broadband access gateways, and wireless and optical datacenter network infrastructure, remains a positive.
This chipmaker is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of -99.1%. Revenues are expected to be $125.06 million, down 57% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For MaxLinear, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MXL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
MaxLinear belongs to the Zacks Semiconductor - Analog and Mixed industry. Another stock from the same industry, Microchip Technology (MCHP - Free Report) , closed the last trading session 3.5% higher at $92.96. Over the past month, MCHP has returned 8.9%.
Microchip Tech's consensus EPS estimate for the upcoming report has changed -2.2% over the past month to $1.13. Compared to the company's year-ago EPS, this represents a change of -27.6%. Microchip Tech currently boasts a Zacks Rank of #5 (Strong Sell).