MaxLinear price target lowered to $26 from $28 at Stifel

Stifel lowered the firm’s price target on MaxLinear to $26 from $28 and keeps a Buy rating on the shares. The company reported in-line Q4 results, but gave lower Q1 guidance than expected as more “cyclical” businesses continue to bounce along the bottom, notes the analyst, wh0 sees signs of late downcycle activity. MaxLinear’s “secular” drivers could comprise a greater percentage of revenue than its “cyclical” businesses, especially over next 12 months, the analyst added.