Needham & Company Reiterates a 'Buy' on Maxim Integrated Products (MXIM); Results & Guidance in the 'Comfort Zone' of Its Peers

Needham & Company reiterates a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target of $29.00.

Needham analyst said, "MXIM posted DecQ2 revenue below consensus but beat non-GAAP EPS estimates on tight OPEX control. MarQ3 revenue guide of down ~4% Q/Q was just below estimates but signs of improvement are on the horizon. Similar to its peers, MXIM expressed limited visibility on the true driver of demand improvement but given the lean channel inventories believes we are at the bottom..."

"We lowered our FY12 revenue/EPS from $2.43B/$1.45 to $2.40B/$1.43, our FY13 estimates from $2.64B/$1.85 to $2.59B/$1.75 and introduced our FY13 estimate of $2.76B/$2.00."

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 $27.37 yesterday.

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