Nomura Securities Maintains a 'Buy' on Maxim Integrated (MXIM); FQ2 Earnings Preview

Nomura Securities maintains a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target of $28.00.

Analyst, Romit Shah, said, "Maxim probably won’t sound as positive as Linear this week. Though well positioned to outgrow analog over the next couple years, we think Maxim faces tough comparisons and seasonal (at best) wireless trends that may limit upside to earnings and the stock near term. Overall, we expect Maxim to report in-line Dec qrtr results ($600mn/$0.33), and guide March qrtr sales to $570-600mn (flat to down 5%), versus our estimate of $588mn/$0.34. Maxim trades roughly in line with Linear (Nasdaq: LLTC) and TI (NYSE: TXN) at 16x CY12 EPS. The stock also trades at 3x enterprise value to sales, in-line with semis versus a 5-year average discount of 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 $27.72 yesterday.

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