Wells Fargo analyst Joseph Quatrochi has reiterated their bullish stance on MXL stock, giving a Buy rating yesterday.
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Joseph Quatrochi has given his Buy rating due to a combination of factors that indicate a positive outlook for Maxlinear. The company has shown signs of recovery and momentum, with a return to positive cash flow and a significant increase in share price. This positive trend is supported by strong customer order rates and an increased backlog, which suggests continued growth into 2025 and 2026.
Additionally, Maxlinear’s confidence in its infrastructure and broadband segments further supports the Buy rating. The company is optimistic about growth in optical and wireless infrastructure, with specific revenue targets for optical interconnect and a positive outlook on wireless infrastructure recovery. Furthermore, the improvement in broadband revenue and the normalization of inventory levels contribute to a favorable financial outlook, reinforcing Quatrochi’s positive assessment of the stock.