MaxLinear shares are trading lower after the company reported worse-than-expected Q2 revenue results and issued Q3 revenue guidance below estimates. Additionally, Craig-Hallum downgraded the stock from Buy to Hold and announced a $25 price target.
Portfolio Pulse from Bill Haddad
MaxLinear reported worse-than-expected Q2 revenue results and issued Q3 revenue guidance below estimates. Craig-Hallum downgraded the stock from Buy to Hold and announced a $25 price target.
July 27, 2023 | 3:51 pm
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NEGATIVE IMPACT
MaxLinear's disappointing Q2 revenue and lower Q3 guidance, coupled with Craig-Hallum's downgrade, could negatively impact the stock.
MaxLinear's lower than expected Q2 revenue and Q3 guidance are negative indicators for the company's performance. Additionally, the downgrade by Craig-Hallum from Buy to Hold, along with a lower price target, suggests a lack of confidence in the stock's potential, which could lead to a decrease in its price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100