Roth MKM downgraded MaxLinear to Neutral from Buy with a price target of $18, down from $35. The company reported revenue slightly behind consensus but guided another decline for Q4 below consensus growth expectations, the analyst tells investors in a research note. The firm says MaxLinear continues to see weaker demand and is still seeing inventory digestion issues in key markets. As a result, it no longer expects revenue to stabilize in 2024.
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Read More on MXL:
- MaxLinear sees Q4 revenue $115M-$135M, consensus $146.15M
- MaxLinear reports Q3 adjusted EPS 2c, consensus 4c
- Notable companies reporting after market close
- MaxLinear price target lowered to $30 from $40 at Susquehanna
- Maxlinear (MXL) Q3 Earnings Cheat Sheet
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