Citadel Securities Maintains a 'Edge Negative' on Maxim Integrated (MXIM); Pay Now, or Pay Later
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Price: $103.14 --0%
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Citadel Securities maintains a 'Edge Negative' on Maxim Integrated Products (NASDAQ: MXIM) price target of $16.
Citadel analyst says, "Opex is forecast to increase by 4% in C3Q, as the company issues annual salary increases in Sept, and the SensorDynamics acquisition folds in. Further a full quarter of compensation increases will only be realized in C4Q, in turn suggesting another 2% sequential bump in opex. Given our expectation that revenue is ultimately headed lower, we think estimates could take a big step down, especially in C4Q, as the current industry correction plays out. Our Street-low CY2012 EPS estimate ticks lower to $1.45, from $1.48 prior."
For more ratings news on Maxim Integrated Products click here and for the rating history of Maxim Integrated Products click here.
Shares of Maxim Integrated Products closed at $22.58 yesterday.
Citadel analyst says, "Opex is forecast to increase by 4% in C3Q, as the company issues annual salary increases in Sept, and the SensorDynamics acquisition folds in. Further a full quarter of compensation increases will only be realized in C4Q, in turn suggesting another 2% sequential bump in opex. Given our expectation that revenue is ultimately headed lower, we think estimates could take a big step down, especially in C4Q, as the current industry correction plays out. Our Street-low CY2012 EPS estimate ticks lower to $1.45, from $1.48 prior."
For more ratings news on Maxim Integrated Products click here and for the rating history of Maxim Integrated Products click here.
Shares of Maxim Integrated Products closed at $22.58 yesterday.
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