FBR Capital Upgrades Maxim Integrated Products (MXIM) to Outperform; Impressive Results and Guidance with 2011 Likely Solid

October 29, 2010 7:05 AM EDT
Get Alerts MXIM Hot Sheet
Price: $41.47 --0%

Rating Summary:
    16 Buy, 13 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 9 | New: 3
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FBR Capital upgrades Maxim Integrated Products, Inc. (Nasdaq: MXIM) from Market Perform to Outperform. Raises PT from $22 to $29.

FBR analyst says, "Thursday, Maxim reported upside results and guidance, and provided another data point that the chip sector is likely to see a still-very profitable "soft landing" in 4Q10 and 1Q11 as tight supply conditions normalize. As such, we are upgrading shares to Outperform. Firms like Maxim, TI (NYSE: TXN), and Broadcom (Nasdaq: BRCM) exemplify that the industry is growing revenues beyond 2008 pre-recession levels, and at much higher profitability levels than ever before achieved (and with share buybacks, dividends) as firms mature and deliver shareholder value."

To see all the upgrades/downgrades on shares of MXIM, visit our Analyst Ratings page.

Shares finished trading at $19.66 yesterday.

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