In a report released today, Quinn Bolton from Needham reiterated a Buy rating on Maxlinear Inc (MXL), with a price target of $20. The company’s shares closed yesterday at $18.17.
Bolton commented:
“CFO, presented to a full room at Needham’s Networking, Communications & Security Conference. MXL’s presentation focused on the company’s growth opportunities in Home businesses. MXL expects the ramp of its 4x100G PAM-4 solution with a large hyperscaler to begin in 2H19 and become a larger revenue contributor in 2020 and 2021. Management believes 400G data center ports may grow from ~250k in 2019 to 3-4MM in 2021. MXL highlighted its opportunity to gain share in the 5G Massive MIMO RF transceiver market with its 40nm CMOS integrated solution expected to enter production in late 2020. Management also discussed the likelihood of CPE content gains in the next-generation full duplex DOCSIS 3.1 cable cycle. We remain buyers of MXL given the company’s growing position within the higher-margin Infrastructure segment.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 13.1% and a 61.4% 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 $20.
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Based on Maxlinear Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.94 million. In comparison, last year the company had a GAAP net loss of $9.17 million.
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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.
