Maxim Integrated (MXIM) PT Bumped to $45 at Jefferies Following In-Line Results on Note 7 Impact
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies analyst Mark Lipacis reiterated a Buy rating and lifted his price target on Maxim Integrated Products (NASDAQ: MXIM) to $45.00 (from $42.00) following in-line Q1 results. The analyst noted auto, industrial, and optical strength offset the Samsung Note 7 impact.
Lipacis commented, "With MXIM's largely in-line results and outlook, the impact from Note 7 appears contained by MXIM's diversification within Consumer and offset by growth in Auto, Industrial, and Optical. We reiterate our Buy rating on MXIM given its decreasing Samsung concentration and secular growth in higher margin, higher visibility Auto/Industrial/Datacenter. We also like its 80% FCF capital return policy, and 3.4% dividend yield."
The firm trimmed FY 2017 EPS from $2.03 to $1.98 and FY 2018 EPS from $2.41 to $2.34.
Shares of Maxim Integrated Products closed at $39.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- RBC Capital Reiterates Outperform on General Electric (GE) Following 4Q
- Perrigo Co. (PRGO) PT Lowered to $70 at Jefferies After Meeting with Management
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!