Needham & Company Reiterates a 'Strong Buy' on MaxLinear (MXL); Revenue Momentum Builds

May 3, 2012 7:51 AM EDT Send to a Friend
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Price: $7.35 +2.51%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 23
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Needham & Company reiterates a 'Strong Buy' on MaxLinear (NYSE: MXL) price target of $10.00.

Analyst, N. Quinn Bolton, said, "MaxLinear’s revenue momentum has been building for several quarters. However, we believe better than expected 1Q12 results and 2Q12 guidance offer strong evidence the company has turned the corner. Not only is gross margin stabilizing at approximately 60% but also management has demonstrated better OPEX discipline. These factors culminate in the company reaching profitability in 2Q12, a quarter ahead of expectations. With strong top-line growth driven by continued success in the Cable markets and new Terrestrial design wins poised to ramp in 2H12 and 2013 and with the company profitable once again, we believe MXL shares are poised for multiple expansion."

Raises FY12 EPS from (0.13) to (0.01) and FY13 from $0.15 to $0.20.

For an analyst ratings summary and ratings history on MaxLinear click here. For more ratings news on MaxLinear click here.

Shares of MaxLinear closed at $4.71 yesterday.


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