Northland upgraded MaxLinear to Outperform from Market Perform with a $30 price target. The firm sees enhanced prospects for a material ramp in 800G PAM4 integrated circuits in the second half of 2024 for AI data center connectivity coming out of last week’s Optical Fiber Communications show, the analyst tells investors in a research note. Northland sees potential for MaxLinear to build a multi-million dollar datacom IC business.
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