Roth Capital Raises Price Target on MaxLinear (MXL) Following 3Q Results
Roth Capital reiterated a Buy rating on MaxLinear (NYSE: MXL), and raised the price target to $21.00 (from $17.00), following the company's 3Q earnings report. MXL reported good 3Q15 results with revenues/proforma EPS of $95.2 million/$0.40 versus Roth Capital's $95.0 million/$0.34 estimates.
Analyst Krishna Shankar commented, "Following the positive pre-announcement, MXL reported good 3Q15 results with revenues/proforma EPS of $95.2 million/$0.40 versus our $95.0 million/$0.34 estimates and guided to 3% sequential revenues (versus prior flat outlook). We view MXL as an attractive investment theme with good organic growth and targeted accretive acquisitions such as Entropic and PHYSpeed in the connected broadband home and communications/ networking infrastructure market. We raise our estimates and target price and reiterate Buy rating."
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Shares of MaxLinear closed at $13.13 yesterday.