Maxlinear Inc Receives a Rating Update from a Top Analyst


In a report released today, Quinn Bolton from Needham maintained a Buy rating on Maxlinear Inc (NYSE: MXL), with a price target of $22. The company’s shares closed yesterday at $15.72, close to its 52-week low of $15.49.

Bolton said:

“We believe transition issues between DOCSIS 3.0 and DOCSIS 3.1 are having a greater than previously thought impact on MaxLinear’s business. We believe DOCSIS 3.0 purchases have declined as OEMs and MSOs look to reduce inventory levels. At the same time, MaxLinear is experiencing a delay in the volume ramp of its DOCSIS 3.1 solutions at a major MSO, with the ramp now expected to begin in 4Q18. As a result of these issues, we believe MXL is hitting an air pocket in its cable data business. We are reducing our sales and EPS estimates for 2018 and 2019 and cutting our 12-month PT to $22 from $27 reflecting a more conservative view of the cable data business.”

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 16.7% and a 68.5% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.

Maxlinear Inc has an analyst consensus of Moderate Buy, with a price target consensus of $22.75.

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The company has a one-year high of $28.99 and a one-year low of $15.49. Currently, Maxlinear Inc has an average volume of 729.6K.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock.

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MaxLinear, Inc. engages in the provision of radio frequency, high-performance analog, and mixed-signal communications systems-on-chip solutions for the connected home, wired and wireless infrastructure, and industrial and multi-market applications.

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