Maxim Integrated Products (MXIM): Cutting Estimates In Anicipation Of Weak Guidance - RBC
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RBC Capital analyst, Amit Daryanani, reiterated his Sector Perform rating on shares of Maxim Integrated Products (NASDAQ: MXIM) and cut estimates for the December quarter to reflect Note 7 headwinds heading into the Sep-qtr EPS call.
The analyst sees limited downside given the high dividend yield and potential take-out, but the stock is unlikely to work higher unless revenues increase, a scenario that seems unlikely given Samsung's challenges.
No change to the price target of $40.
Shares of Maxim Integrated Products closed at $37.87 yesterday.
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