MaxLinear Inc. (NASDAQ:MXL) is one of the 10 Resilient Stocks in a Sea of Uncertainties.
MaxLinear extended its winning streak to a 10th straight day on Tuesday, as investors took heart from a 48 percent price target upgrade for its stock, while loading portfolios ahead of its earnings outcome.
In intra-day trading, the stock surged to its record high of $37.37 before trimming gains to finish the session just up by 6.21 percent at $33.70 apiece.
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In a market note, Stifel raised its price target to $34 from $23 while maintaining a “buy” recommendation amid optimism that MaxLinear Inc. is capable of hitting its revenue outlook for the first quarter of the year.
For the said period, the company is expecting to report a 35.5 percent to 46 percent growth in its revenues to a range of $130 million to $140 million, versus $95.9 million previously.
MaxLinear Inc. said that it would release its financial and operating highlights for the period after market close on Thursday, April 23. A conference call will be held to elaborate on the results.
For the second quarter, Stifel said that it expects MaxLinear Inc. to report $139.1 million in revenues, with growth to come from its infrastructure business.
In other news, the listed firm late last month announced a new addition to its industrial connectivity portfolio with the launch of the MxL8323x family of RS-485/RS-422 half-duplex transceivers, designed to deliver scalable data rates up to 50Mbps, robust ESD and EFT protection, and wide voltage compatibility for electrically harsh industrial applications.
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