Hot IPO MaxLinear (MXL) Is Higher Again
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Yesterday's hot IPO, MaxLinear Inc. (NYSE: MXL), is seeing some nice follow-through action today. After jumping 34 percent on its debut, shares are up another 2 percent today.
The broadband video equipment maker priced 6,444,100 shares IPO $14.00 per share, above the expected $11-$13 range. Shares traded as high as $19.50 this morning, but have since backed down to $19.09.
The market cap based on the current price is now about $580 million, based on a total number of class A and class B stock outstanding after the offering of 30,411,122 shares.
MaxLinear has seen its sales rise from $9.7 million in 2007, to $31.3 million in 2008, to $51.35 million in 2009. The company has turned around a loss of $0.93 per share in 2007 to a pro-forma profit of $0.17 in 2009.
If the company matches last year's EPS for 2010, the P/E multiple on the stock would be at a rather high 112x. If the company doubles earnings to $0.34 per share, then the multiple is 56x. If the company can drive EPS to $1.00 per share than the multiple is 19x.
The broadband video equipment maker priced 6,444,100 shares IPO $14.00 per share, above the expected $11-$13 range. Shares traded as high as $19.50 this morning, but have since backed down to $19.09.
The market cap based on the current price is now about $580 million, based on a total number of class A and class B stock outstanding after the offering of 30,411,122 shares.
MaxLinear has seen its sales rise from $9.7 million in 2007, to $31.3 million in 2008, to $51.35 million in 2009. The company has turned around a loss of $0.93 per share in 2007 to a pro-forma profit of $0.17 in 2009.
If the company matches last year's EPS for 2010, the P/E multiple on the stock would be at a rather high 112x. If the company doubles earnings to $0.34 per share, then the multiple is 56x. If the company can drive EPS to $1.00 per share than the multiple is 19x.
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