Maxlinear

MXL · NASDAQ

$73.51−$3.60 (−4.67%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $77.11

MXL analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 11 analysts

Average $102.00 (+38.8% upside)

Low: $75.75
Now: $73.51
High: $131.25

Upgrades and downgrades

The latest rating actions, newest first

MXL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 20, 2026	Maintains	Equal-Weight	$95.00 → $78.00	54%
Roth Capital	Jul 24, 2026	Maintains	Buy	$60.00 → $100.00	47%
Wells Fargo	Jul 24, 2026	Maintains	Equal-Weight	$75.00 → $95.00	54%
Stifel	Jul 24, 2026	Maintains	Buy	$110.00 → $120.00	62%
Susquehanna	Jul 24, 2026	Maintains	Neutral	$45.00 → $80.00	60%
Needham	Jul 24, 2026	Maintains	Buy	$60.00 → $100.00	44%
Wells Fargo	Jul 20, 2026	Maintains	Equal-Weight	$42.00 → $75.00	54%
Stifel	Jun 29, 2026	Maintains	Buy	$105.00 → $110.00	62%
Stifel	Jun 4, 2026	Maintains	Buy	$49.00 → $105.00	62%
Benchmark	May 27, 2026	Initiates	Buy	$125.00	75%

The case for and against

Updated Oct 16, 2026

Bull case

MaxLinear is well positioned for upside because its Infrastructure segment has become the largest revenue driver, led by strong optical data center momentum and 2Q26 revenue of $168.8 million, up 55% year over year, with 3Q26 guidance for $210 million-$220 million well above expectations. The company is also broadening beyond today’s Keystone PAM4 DSP ramp into 1.6T products such as Rushmore, Washington, and Annapurna, while management expects 800G shipments to keep growing in 2027 and new products to add revenue in 2027 and 2028. Stable gross margins near 60%, improving operating leverage, and positive free cash flow reinforce the view that MaxLinear’s fabless model can convert growth into earnings expansion as Broadband, Connectivity, and Industrial also recover.

Bear case

MaxLinear is exposed to uneven demand as spending by satellite and cable providers on next-generation broadband connected home technologies, communications infrastructure, and datacenter advanced technologies can be delayed or pushed out, which can slow product ramps and weaken revenue visibility. Competitive pressure from larger rivals such as ADI, Broadcom, SMTC, and IPHI, along with aggressive pricing, can compress margins and profitability, while the slow rollout of DOCSIS 3.0/3.1 and digital channel switching limits near-term adoption. The company also faces meaningful legal overhang from arbitration tied to a prior terminated lawsuit, where the stated $160m termination fee may indicate potential liability, and its results remain vulnerable to semiconductor cyclicality, product acceptance risk, and M&A integration risk.

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