UBS reiterates a 'Buy' on Maxim Integrated Products (MXIM); Raising Estimates

UBS reiterates a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target raised from $30 to $32.

Analyst, Uche Orji, said, "Maxim reported inline revenues & better than expected EPS driven by higher gross margins. F4Q Rev/EPS & gross margin guidance is ahead driven by bookings strength across the board, especially in smartphones. MXIM now believes inventory destocking has ended & utilization rates are expected to increase as production rises to match customer end consumption rates."

Raises Q4 from $0.34/$590 mln to $0.40/$607 mln. FY13 raised from $1.67

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 $27.60 yesterday.

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