MaxLinear Q3 revenue jumps 72% on AI data center demand

MaxLinear

Today 21:17

Overview
U.S. chipmaker's Q3 revenue rose 72% yr/yr, beating analyst expectations
Adjusted EPS for Q3 rose sharply from a year ago
Infrastructure revenue surged 210% yr/yr on AI data center demand

Outlook
MaxLinear sees Q4 revenue between $240 mln and $260 mln
Company expects Q4 non-GAAP gross margin of 59.0% to 62.0%
MaxLinear projects Q4 non-GAAP operating expenses of $65 mln to $70 mln

Result Drivers
AI DATA CENTER DEMAND - Infrastructure revenue surged due to accelerated adoption of optical AI data center products and ramp of Keystone PAM4 DSP platform
INFRASTRUCTURE GROWTH - Co attributed overall revenue growth to strong performance in AI datacenter-centric infrastructure
NEW PRODUCTS - Co said new product introductions expanded its footprint 

Company press release: ID:nBw8FSz69a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$218.06 mln
$211.43 mln (10 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the semiconductors peer group is "buy"
Wall Street's median 12-month price target for MaxLinear, Inc. is $100.00, about 31.9% above its October 21 closing price of $75.79
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 79 three months ago

Reuters Recommended Reads
Oct 22 - TTM Technologies Q3 revenue jumps 60%, beats expectations on data center market demand
Oct 21 - Super Micro climbs after upbeat forecast shows robust AI demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)