Needham & Company Reiterates a 'Buy' on Maxim Integrated Products (MXIM); Management Visits Bolster Confidence in Industry Outperformance
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Price: $103.14 --0%
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Needham & Company reiterates a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target of $31.00.
Needham analyst says, "As investors struggle with the micro forces at work within the analog space against the backdrop of the macro economy, MXIM continues to prove that its turnaround over the last 3-4 of years has been successful. Relative to the preannouncements out of Texas Instruments (NYSE: TXN) and Fairchild Semi (NYSE: FCS) (Not/Rated), it is important to note that MXIM is over-exposed to the mobile handset market relative to peers and will see a seasonal uptick in in this segment in 2H11 that should mitigate the broader weakness seen within the industry. Thus, MXIM’s 2% Q/Q guide for SepQ1 appears intact and is certainly nowhere near the -5% Q/Q mid-Q guide provided by TXN. Also, MXIM has proven to be one of the strongest cash generators among its peers in a downturn (e.g. late 2008) and entices incremental buyers with its high dividend yield of almost 4%. We favor MXIM over all other broadly exposed analog names we cover for those looking for mid-cap exposure in the space."
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 $23.11 yesterday.
Needham analyst says, "As investors struggle with the micro forces at work within the analog space against the backdrop of the macro economy, MXIM continues to prove that its turnaround over the last 3-4 of years has been successful. Relative to the preannouncements out of Texas Instruments (NYSE: TXN) and Fairchild Semi (NYSE: FCS) (Not/Rated), it is important to note that MXIM is over-exposed to the mobile handset market relative to peers and will see a seasonal uptick in in this segment in 2H11 that should mitigate the broader weakness seen within the industry. Thus, MXIM’s 2% Q/Q guide for SepQ1 appears intact and is certainly nowhere near the -5% Q/Q mid-Q guide provided by TXN. Also, MXIM has proven to be one of the strongest cash generators among its peers in a downturn (e.g. late 2008) and entices incremental buyers with its high dividend yield of almost 4%. We favor MXIM over all other broadly exposed analog names we cover for those looking for mid-cap exposure in the space."
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 $23.11 yesterday.
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