BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL) investors concerning the Company’s possible violations of federal securities laws.
On July 26, 2023, MaxLinear announced its second quarter 2023 financial results, disclosing net revenue of $183.9 million, which was down 34% year-over-year. On this news, MaxLinear’s stock price fell $11.45, or 33.7%, over two consecutive trading days, to close at $22.55 per share on July 27, 2023, thereby injuring investors.
Then, on October 25, 2023, MaxLinear announced its third quarter 2023 financial results, disclosing net revenue of $135.5 million, which was down 53% year-over-year. The Company also provided disappointing revenue guidance for the fourth quarter of $115 million to $135 million. On this news, MaxLinear’s stock price fell $4.04, or 22%, to close at $14.36 per share on October 26, 2023.
Then, on July 24, 2024, MaxLinear released its second quarter 2024 financial results, disclosing that net revenue for the quarter was just $92 million, down 50% year-over-year, due to prolonged burn-off of excess customer inventory leading to weakened demand. On this news, MaxLinear’s stock price fell $8.27, or 37.1%, to close at $14.02 per share on July 25, 2024, thereby injuring investors further.
If you purchased MaxLinear securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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