MAXLINEAR, INC
MXL · Semiconductors & Related Devices · 89.5M shares · +3%/yr ↑ dilution · EDGAR filings ↗
Reference price $105.00 · est. market cap ~$9.4B — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C54Broadband/connectivity chipmaker recovering on revenue but with deep losses and weak liquidity.
Strengths
- Revenue recovery — +29.7% (67th)
- Healthy gross margin — 56.8% (77th)
Risks
- Deep losses — operating margin -27.1%, net margin -29.2%, ROE -30.2% (11th)
- Weak liquidity — current ratio 1.34 (7th pct), quick ratio 0.92 (5th)
- Semiconductor cyclicality — per 10-K
Notable findings
- Customer concentration~82% of revenue from one customer/distributor — Products shipped to Asia accounted for 82%, 75% and 75% of net revenue during the years ended 2025, 2024 and 2023, respectively, including 49%, 41% and 37%, respectively, from products shipped to Hong
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Net lossNet loss (net margin -29.2%)
- Insider sellingInsider selling — 14 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$10M, last 6mo) Form 4 ↗
- Pending merger” 17 Table of Contents Risk Factor Summary Risks Relating to the Terminated Merger with Silicon Motion • The termination of the Merger Agreement and the related legal proceedings have caus
- China exposure• We will lose sales if we are unable to obtain or retain government authorization to export certain of our products or technology related to the development or production of our products or if such a
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
56.8%
Operating margin
-27.1%
Net margin
-29.2%
Return on equity
-30.2%
Return on assets
-17.2%
ROIC
-17.4%
Revenue growth (QoQ)
0.6%
Debt / equity
0.3×
Current ratio
1.3×
Free cash flow
$7M
EBITDA
-$83M
Tangible book value
$84M
Cash & investments
$73M
Stock comp / revenue
16.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | PARDUN THOMAS E | Sell | 11K | $105.00 |
| 2026-05-25 | Kwong Connie H. | Option exercise | 3.7K | — |
| 2026-05-25 | Kwong Connie H. | Tax withheld | 3.7K | $99.16 |
| 2026-05-20 | SEENDRIPU KISHORE | Option exercise | 34K | — |
| 2026-05-20 | MOYER ALBERT J | Option exercise | 40K | — |
| 2026-05-20 | SEENDRIPU KISHORE | Tax withheld | 34K | $96.77 |
| 2026-05-08 | Kwong Connie H. | Sell | 6.5K | $97.15 |
| 2026-05-08 | Kwong Connie H. | Sell | 28K | $96.92 |
| 2026-05-05 | Tewksbury Ted L III | Sell | 3.9K | $80.00 |
| 2026-05-04 | ARTUSI DANIEL A | Sell | 10K | $78.64 |
| 2026-05-04 | Tewksbury Ted L III | Sell | 3.9K | $77.36 |
| 2026-05-04 | BEAVER CAROLYN | Sell | 6.0K | $76.96 |
| 2026-05-04 | MOYER ALBERT J | Sell | 16K | $78.00 |
| 2026-05-01 | BEAVER CAROLYN | Option exercise | 16K | — |
| 2026-05-01 | ARTUSI DANIEL A | Option exercise | 16K | — |
| 2026-05-01 | Sennesael Kris | Option exercise | 2.1K | — |
| 2026-05-01 | MOYER ALBERT J | Option exercise | 16K | — |
| 2026-05-01 | Tewksbury Ted L III | Option exercise | 16K | — |
| 2026-05-01 | Tewksbury Ted L III | Sell | 2.8K | $78.67 |
| 2026-04-29 | Kwong Connie H. | Sell | 4.1K | $58.00 |
| 2026-04-27 | Kwong Connie H. | Sell | 15K | $51.29 |
| 2026-03-06 | LITCHFIELD STEVEN G | Sell | 20K | $15.68 |
| 2026-03-05 | LITCHFIELD STEVEN G | Sell | 4.9K | $16.81 |
| 2026-03-04 | LITCHFIELD STEVEN G | Sell | 20K | $17.50 |
| 2026-03-02 | Kwong Connie H. | Tax withheld | 6.2K | $17.99 |
| 2026-03-02 | SEENDRIPU KISHORE | Tax withheld | 31K | $17.99 |
| 2026-03-02 | SEENDRIPU KISHORE | Tax withheld | 27K | $17.99 |
| 2026-03-02 | SEENDRIPU KISHORE | Tax withheld | 90K | $17.99 |
| 2026-03-02 | Kwong Connie H. | Tax withheld | 5.0K | $17.99 |
| 2026-03-02 | Kwong Connie H. | Tax withheld | 918 | $17.99 |
| 2026-03-02 | Kwong Connie H. | Option exercise | 6.2K | — |
| 2026-03-02 | SEENDRIPU KISHORE | Option exercise | 90K | — |
| 2026-02-20 | SEENDRIPU KISHORE | Grant | 50K | — |
| 2026-02-20 | Kwong Connie H. | Grant | 9.2K | — |
| 2026-02-20 | Kwong Connie H. | Grant | 1.7K | — |
| 2026-02-20 | SEENDRIPU KISHORE | Grant | 56K | — |
| 2026-02-20 | LITCHFIELD STEVEN G | Grant | 26K | — |
| 2026-02-20 | LITCHFIELD STEVEN G | Grant | 19K | — |
| 2026-02-20 | LITCHFIELD STEVEN G | Option exercise | 29K | — |
| 2026-02-20 | LITCHFIELD STEVEN G | Tax withheld | 43K | $18.47 |
| 2025-10-30 | ARTUSI DANIEL A | Sell | 21K | $15.39 |
| 2025-10-29 | ARTUSI DANIEL A | Sell | 9.1K | $15.87 |
| 2025-09-01 | Kwong Connie H. | Option exercise | 757 | — |
| 2025-09-01 | Kwong Connie H. | Tax withheld | 757 | $15.72 |
| 2025-08-26 | LITCHFIELD STEVEN G | Sell | 1.3K | $17.32 |
| 2025-08-26 | LITCHFIELD STEVEN G | Sell | 101K | $17.28 |
| 2025-05-26 | Kwong Connie H. | Tax withheld | 649 | $11.57 |
| 2025-05-26 | Kwong Connie H. | Option exercise | 649 | — |
| 2025-05-20 | SEENDRIPU KISHORE | Option exercise | 4.0K | — |
| 2025-05-20 | SEENDRIPU KISHORE | Tax withheld | 4.0K | $12.07 |
| 2025-05-20 | LITCHFIELD STEVEN G | Tax withheld | 1.2K | $12.07 |
| 2025-05-20 | LITCHFIELD STEVEN G | Option exercise | 1.2K | — |
| 2025-05-02 | Tewksbury Ted L III | Sell | 6.1K | $10.40 |
| 2025-05-01 | BEAVER CAROLYN | Option exercise | 12K | — |
| 2025-05-01 | MOYER ALBERT J | Option exercise | 12K | — |
| 2025-05-01 | ARTUSI DANIEL A | Option exercise | 12K | — |
| 2025-05-01 | Liu Tsu-Jae King | Option exercise | 12K | — |
| 2025-05-01 | Dougherty Greg | Option exercise | 12K | — |
| 2025-05-01 | PARDUN THOMAS E | Option exercise | 12K | — |
| 2025-05-01 | Tewksbury Ted L III | Option exercise | 12K | — |
| 2025-03-03 | Kwong Connie H. | Tax withheld | 407 | $13.70 |
| 2025-03-03 | Kwong Connie H. | Option exercise | 6.2K | — |
| 2025-03-03 | Kwong Connie H. | Tax withheld | 6.2K | $13.70 |
| 2025-03-03 | SEENDRIPU KISHORE | Tax withheld | 4.5K | $13.70 |
| 2025-03-03 | SEENDRIPU KISHORE | Option exercise | 90K | — |
| 2025-03-03 | SEENDRIPU KISHORE | Tax withheld | 90K | $13.70 |
| 2025-02-20 | SEENDRIPU KISHORE | Grant | 8.1K | — |
| 2025-02-20 | Kwong Connie H. | Grant | 783 | — |
| 2025-02-20 | LITCHFIELD STEVEN G | Grant | 3.2K | — |
| 2025-02-20 | LITCHFIELD STEVEN G | Option exercise | 29K | — |
| 2025-02-20 | LITCHFIELD STEVEN G | Tax withheld | 30K | $17.19 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-01 | Auditor changeExhibits | filing ↗ |
| 2026-05-21 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-04-23 | Material agreementResultsDebt obligationExhibits | filing ↗ |
| 2026-02-17 | Exec/director changeExhibits | filing ↗ |
| 2026-01-29 | ResultsExhibits | filing ↗ |
| 2025-11-24 | OtherExhibits | filing ↗ |
| 2025-10-23 | ResultsExhibits | filing ↗ |
| 2025-07-23 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-05-28 | 0001288469-26-000045 ↗ |
| 8-K | 2026-05-21 | 2026-05-20 | 0001288469-26-000035 ↗ |
| 8-K | 2026-04-23 | 2026-04-22 | 0001288469-26-000027 ↗ |
| 10-Q | 2026-04-23 | 2026-03-31 | 0001288469-26-000029 ↗ |
| 8-K | 2026-02-17 | 2026-02-13 | 0001288469-26-000017 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001288469-26-000009 ↗ |
| 10-K | 2026-01-29 | 2025-12-31 | 0001288469-26-000011 ↗ |
| 8-K | 2025-11-24 | 2025-11-20 | 0001288469-25-000102 ↗ |
| 8-K | 2025-10-23 | 2025-10-23 | 0001288469-25-000095 ↗ |
| 10-Q | 2025-10-23 | 2025-09-30 | 0001288469-25-000097 ↗ |
| 10-Q | 2025-07-23 | 2025-06-30 | 0001288469-25-000079 ↗ |
| 8-K | 2025-07-23 | 2025-07-23 | 0001288469-25-000078 ↗ |