Needham & Company maintains a 'Buy' on Maxim Integrated (MXIM); Waiting For Word on End Demand
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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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Needham & Company maintains a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target of $29.00.
Analyst, Vernon Essi, Jr., said, "Late last year investors were pleased to hear reports that semis had “hit bottom” and the order rates would resume. This bottom has dragged on for some time, but recently orders have started to improve, albeit at depressed levels. Thus companies in our Analog/Mixed Signal coverage universe appear to be having a “Spruce Goose” recovery that has barely any lift. MXIM is somewhat of a shining outlier as we see pockets of strength that should help MXIM outperform its peers in 2012 – namely its share expansion in the growing smartphone market – but that has little to do with Q1. Management cannot determine the end demand environment with its customers given that channel inventory is about 10 days under normal levels, leading to inevitable restocking, likely taking place in MarQ3. We maintain our thesis that the semi group will have a pullback heading into Q1 earnings, and we continue to believe that MXIM offers investors the best larger cap opportunity in our A/MS coverage universe."
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 $28.45 yesterday.
Analyst, Vernon Essi, Jr., said, "Late last year investors were pleased to hear reports that semis had “hit bottom” and the order rates would resume. This bottom has dragged on for some time, but recently orders have started to improve, albeit at depressed levels. Thus companies in our Analog/Mixed Signal coverage universe appear to be having a “Spruce Goose” recovery that has barely any lift. MXIM is somewhat of a shining outlier as we see pockets of strength that should help MXIM outperform its peers in 2012 – namely its share expansion in the growing smartphone market – but that has little to do with Q1. Management cannot determine the end demand environment with its customers given that channel inventory is about 10 days under normal levels, leading to inevitable restocking, likely taking place in MarQ3. We maintain our thesis that the semi group will have a pullback heading into Q1 earnings, and we continue to believe that MXIM offers investors the best larger cap opportunity in our A/MS coverage universe."
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 $28.45 yesterday.
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