MaxLinear (MXL) PT Lowered to $27 at Needham & Company

Needham & Company lowered its price target on MaxLinear (NYSE: MXL) to $27.00 (from $30.00) while maintaining a Buy rating.

Analyst N. Quinn Bolton commented, "MaxLinear reported light 1Q18 revenue while NG EPS beat by $0.02. However, 2Q18 revenue guidance came in much lower than our forecast reflecting headwinds in optical, legacy terrestrial tuners, MoCA and satellite solutions as well as a negative impact from the recent ZTE ban. Though we remain encouraged by the growth in MXL’s wireless infrastructure segment and the strong pipeline of new Infrastructure products, we lower our EPS estimates for 2018 and 2019 in an effort to provide a conservative model. We reduce our price target to $27 from $30 ."

You May Also Be Interested In

• TD Cowen Downgrades Flowserve Corp. (FLS) to Hold
• Morgan Stanley Upgrades Global Unichip Corp (3443:TT) to Overweight
• Mizuho Starts Sol Gel Technologies Ltd. (SLGL) at Outperform