Northland lowered the firm’s price target on MaxLinear to $25 from $35 and keeps a Market Perform rating on the shares following the company’s weaker than expected Q2 guidance after an in line Q1. While strength in Comm Infrastructure driven by 5G microwave backhaul is expected to continue throughout calendar 2023, high broadband gateway customers inventories are accelerating declines in Broadband and Connectivity revenues with continued weakness in WiFi/Connectivity as well, the analyst noted.
Published first on TheFly
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