MaxLinear (MXL) PT Raised to $28 at Benchmark as Product Cycles Ramp

Benchmark analyst David Williams raised the price target on MaxLinear (NASDAQ: MXL) to $28.00 (from $25.00) while maintaining a Buy rating.

The analyst commented, "MXL remains a Benchmark Best Idea into 2026, and we are increasing our PT to $28 as we believe MXL represents one of the best connectivity-focused semiconductor opportunities despite share underperformance last year. Multiple new product cycles are ramping, supporting a meaningful top-line recovery and strong operating leverage, with the potential to drive sustained above-industry-average revenue growth. Although the SIMO arbitration remains an overhang, we expect a resolution by mid-year, which should allow the shares to more fully reflect the underlying strength of the refreshed product portfolio. Optical interconnect continues to gain traction, and we estimate growth of more than 60% year over year, with further acceleration expected in 2027 as the next-generation Rushmore platform ramps. This momentum is complemented by improving adoption across Storage Accelerators, 5G ORAN, and broadband, further strengthening visibility into the company’s multi-year growth trajectory."

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