UPDATE 1-MaxLinear cuts Q3 revenue view; shares fall
* Cuts Q3 rev view to $18.4-$18.6 million
* Shares fall 12 pct after bell
Oct 4 (Reuters) - Broadband chipmaker MaxLinear Inc (MXL.N) cut its third-quarter revenue outlook and cited the uncertainty in the current semiconductor market for the shortfall in customer orders.
The company, which makes products that enable the display of broadband video in a wide range of electronic devices, said customers either reduced the amount of purchase orders within lead time or requested rescheduling of shipments.
Revenue fell short in each of its consumer, cable, automotive and mobile segments, it added. In March, the company priced shares in its initial public offering above the top of the expected range. [ID:nN23115254]
The company now expects revenue of $18.4-$18.6 million, compared with its prior view of $20-$20.5 million. Analysts on average were estimating revenue of $20.3 million, according to Thomson Reuters I/B/E/S.
Shares of the company were trading down 12 percent at $9.96 after the bell. They had closed at $11.36 Monday on New York Stock Exchange. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Jarshad Kakkrakandy)
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