Roth MKM downgraded MaxLinear to Neutral from Buy with a price target of $18, down from $35. The company reported revenue slightly behind consensus but guided another decline for Q4 below consensus growth expectations, the analyst tells investors in a research note. The firm says MaxLinear continues to see weaker demand and is still seeing inventory digestion issues in key markets. As a result, it no longer expects revenue to stabilize in 2024.
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