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Fly News Breaks for June 4, 2019
MXL
Jun 4, 2019 | 10:48 EDT
Roth Capital analyst Suji Desilva lowered his price target for MaxLinear to $23 from $28 after the company reduced its Q2 revenue outlook to reflect the Huawei ban. The analyst believes Huawei represented a newer customer for the company's wireless access/backhaul products and was set to support second half of 2019 revenue growth. Desilva keeps a Neutral rating on MaxLinear saying he's looking for further recovery momentum before getting more aggressive on the name.
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