MaxLinear price target lowered to $20 from $25 at Northland

Northland lowered the firm’s price target on MaxLinear to $20 from $25 and keeps a Market Perform rating on the shares following the company’s “slightly lower” Q3 results and “significantly lower” Q4 guidance. The company’s initial forecast of a Q3 bottom in the current inventory correction moved into Q1 of 2024, notes the analyst.