Needham & Company Reiterates a 'Buy' on MaxLinear (MXL); Meetings With Management Increase Our Conviction In The Story
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Price: $84.76 -0.09%
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company reiterates a 'Buy' on MaxLinear (NYSE: MXL), PT $13.
Needham analyst says, "We hosted meetings with MaxLinear CFO Adam Spice on 6/14 and come away impressed with the company’s growth trajectory in the cable market and its initiative to expand into new adjacent markets. After experiencing delayed product ramps and consumer market headwinds since the Spring 2010 IPO, we believe MXL now has multiple tailwinds that should drive healthy growth for the next several years. After being primed for his first public-company CFO role through experience at Symwave (NR), BRCM and INTC, we believe Adam is intently focused on growing MaxLinear into a substantially larger semiconductor company through multiple TAM expansions. This is clearly a long term positive, in our opinion, and we would expect any incremental product to layer on top of substantial growth in cable SoCs. We are leaving our estimates unchanged at this time and reiterate our rating."
For more ratings news on MaxLinear click here and for the rating history of MaxLinear click here.
Shares of MaxLinear closed at $9.32 yesterday.
Needham analyst says, "We hosted meetings with MaxLinear CFO Adam Spice on 6/14 and come away impressed with the company’s growth trajectory in the cable market and its initiative to expand into new adjacent markets. After experiencing delayed product ramps and consumer market headwinds since the Spring 2010 IPO, we believe MXL now has multiple tailwinds that should drive healthy growth for the next several years. After being primed for his first public-company CFO role through experience at Symwave (NR), BRCM and INTC, we believe Adam is intently focused on growing MaxLinear into a substantially larger semiconductor company through multiple TAM expansions. This is clearly a long term positive, in our opinion, and we would expect any incremental product to layer on top of substantial growth in cable SoCs. We are leaving our estimates unchanged at this time and reiterate our rating."
For more ratings news on MaxLinear click here and for the rating history of MaxLinear click here.
Shares of MaxLinear closed at $9.32 yesterday.
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