Maxim Integrated Products (MXIM): Chip Recovery Has Begun - Wells Fargo

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.

For an analyst ratings summary and ratings history on Maxim Integrated Products click here. For more ratings news on Maxim Integrated Products click here.

Shares of Maxim Integrated Products closed at $39.10 yesterday.

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