Needham & Company Downgrades MaxLinear (MXL) to Hold

Needham & Company downgraded MaxLinear (NYSE: MXL) from Buy to Hold.

Analyst N. Quinn Bolton commented, "While significant outperformance YTD in 2014 and richer valuations drove many of our downgrades, we are downgrading MXL to Hold from Buy primarily due to a lack of near-term catalysts. With a more challenging cable outlook and a push-out in the ramp of its satellite gateway and ODU opportunities, we believe there are few near-term catalysts to excite investors. Given our more cautious stance on the semiconductor industry, we would rather move to the sidelines now and perhaps come back to the stock once visibility into specific catalysts becomes clear."

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 $7.37 yesterday.

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