MaxLinear (NASDAQ:MXL) stock is falling on Wednesday as the company prepares to release its latest earnings report later today.
The radio frequency, analog, digital, and mixed-signal integrated circuits company will release results for the second quarter of 2023 after markets close today. The company will also hold a conference call covering these results at 4:30 p.m. Eastern Time.
With that upcoming earnings data, investors will want to keep in mind what Wall Street is expecting from the company. That includes an earnings-per-share estimate of 33 cents and a revenue estimate of $190.3 million.
MXL Stock Merger Incoming
Outside of that, investors will also want to be aware of a planned acquisition deal with Silicon Motion Technology (NASDAQ:SIMO). That will see it offer a mix of cash and MXL stock in a deal that values SIMO shares at $114.34 each. This deal was set to close in the first half of 2023 and should happen relatively soon.
With all of the news surrounding MXL stock today, the company’s shares are seeing heavy trading. As of this writing, more than 1 million shares of its stock have changed hands. To put that in perspective, its daily average trading volume is closer to about 813,000 shares.
MXL stock is down 27.9%, and SIMO stock is up 83% as of Wednesday morning.
Investors keeping up with all of the most recent stock market news are going to want to stick around!
We have all of the latest stock market coverage to keep traders in the know on Wednesday! A few examples of that include why shares of PacWest Banc (NASDAQ:PACW) and SIMO stock are rising today, as well as the biggest pre-market stock movers this morning. All of that news is available at the following links!
More Stock Market News for Wednesday
- Why Is PacWest Banc (PACW) Stock Up 30% Today?
- Why Is Silicon Motion Technology (SIMO) Stock Up 78% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
