Needham & Company Reiterates a 'Strong Buy' on MaxLinear (MXL); New Products Begin To Drive Upward Revisions To Revenue
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Price: $84.84 +10.68%
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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 results and guidance reflect better than expected revenue driven by continued adoption of the company’s cable solutions, offset by weaker than expected gross margin. We believe the weaker GM reflects delayed adoption of the company’s 65nm solutions across its cable and terrestrial markets and expect the adoption of these products in 2H12 will stabilize, if not drive a recovery in, GM. With revenue beginning to exceed expectations and with the company poised to benefit from continued adoption of its cable solutions and the ramp of its hybrid TV tuners for DTVs and ISDB-T tuner/demod SoCs for satellite STBs, MXL shares are poised for multiple expansion in our opinion."
Needham lower FY12 EPS from (0.10) to (0.13), but raises FY13 from $0.14 to $0.15.
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 $6.27 yesterday.
Analyst, N. Quinn Bolton, said, "MaxLinear’s results and guidance reflect better than expected revenue driven by continued adoption of the company’s cable solutions, offset by weaker than expected gross margin. We believe the weaker GM reflects delayed adoption of the company’s 65nm solutions across its cable and terrestrial markets and expect the adoption of these products in 2H12 will stabilize, if not drive a recovery in, GM. With revenue beginning to exceed expectations and with the company poised to benefit from continued adoption of its cable solutions and the ramp of its hybrid TV tuners for DTVs and ISDB-T tuner/demod SoCs for satellite STBs, MXL shares are poised for multiple expansion in our opinion."
Needham lower FY12 EPS from (0.10) to (0.13), but raises FY13 from $0.14 to $0.15.
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 $6.27 yesterday.
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