Maxim Integrated Products (MXIM): Chip Recovery Has Begun - Wells Fargo
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Wells Fargo analyst, David Wong, reiterated his Market Perform rating on shares of Maxim Integrated Products (NASDAQ: MXIM) and raised his valuation range to $34.00 to $40.00 from $27 to $34 after Maxim’s December sales outlook implied a return to year/year growth. This supports the analyst's view that a recovery in chip demand has begun.
The analyst raised his FY’17 EPS estimate to $1.85 from $1.82 (with the upside being driven primarily by special gains for a business sale in the September quarter). The FY’18 EPS estimate remains unchanged at $2.10.
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
- Time (TIME): Stuck Until A Deal Is Announced - Wells Fargo
- Jefferies Raises Price Target on NeuroDerm (NDRM) to $42
- BMO Capital Raises Price Target on Ciena (CIEN) Following 4Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesWells Fargo
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!