Loop Capital lowered the firm’s price target on MaxLinear to $40 from $60 but keeps a Buy rating on the shares. The analyst cites company’s Q1 revenue miss and below-consensus Q2 guidance amid an incremental softening in demand as OEM’s are looking to reduce inventory. The firm further contends that OEMs wouldn’t look to reduce inventory to the degree at which MaxLinear s looking to reduce its guidance relative to consensus estimates unless they were "substantially more cautious" around end-demand.
Published first on TheFly
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