MaxLinear Gains 5% After Company Updates Q1 Guidance

Shares of MaxLinear, Inc. MXL, a provider of integrated, radio-frequency and mixed-signal integrated circuits, gained more than 5 percent Wednesday morning after the company provided an update to its first quarter outlook.

MaxLinear said it expects its revenue for the first quarter to be between $102 million to $103 million - inline with the company's prior guidance. The company also expects its gross profit percentage to exceed its prior guidance by approximately 200 basis points and its operating expenses to be approximately $1.0 million less than previously expected.

MaxLinear added that its operating results in the quarter will also be partially offset by incremental tax expenses of approximately $2 million.

"As we have seen strength across our business with continued strong booking trends, we are pleased to reiterate our revenue outlook for the first quarter 2016," the company said in its press release. "Additionally, continued supply chain efficiencies, particularly in our Entropic business, favorable mix, and tight expense control yielded better-than-expected gross profit and operating expense results."

MaxLinear will report its first quarter results on Monday, May 9, after market close.