MKM Partners Raises PT on Maxim Integrated Products (MXIM); Our Favorite HPA Name
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Price: $103.14 --0%
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
9 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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MKM Partners reiterates a 'Neutral' on Maxim Integrated Products (NASDAQ: MXIM) price target of $30.00 (from $27.00).
Analyst, Daniel Berenbaum, said, "MXIM’s strategy of trading gross margin for faster growth seems to be working, and we would argue that these offsets justify a multiple closer to Linear (Nasdaq: LLTC) and Analog Devices (NYSE: ADI) versus its current discount (10% on consensus CY13 EPS, 15% on our estimates). We remain cautious on broadly-exposed semi names, but MXIM’s recent underperformance over concerns on Samsung smartphones (20% customer for MXIM) seems overblown – we prefer MXIM to other stocks in the HPA group."
"Our 1QFY13 revenue/pro-forma EPS are $620mn/$0.44 (cons. $621mn/$0.44); FY13E are $2.5bn/$1.79 (cons. $2.5bn/ $1.80); FY14E are $2.7bn/$2.01 (cons. $2.7bn/$2.08)."
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 $27.14 yesterday.
Analyst, Daniel Berenbaum, said, "MXIM’s strategy of trading gross margin for faster growth seems to be working, and we would argue that these offsets justify a multiple closer to Linear (Nasdaq: LLTC) and Analog Devices (NYSE: ADI) versus its current discount (10% on consensus CY13 EPS, 15% on our estimates). We remain cautious on broadly-exposed semi names, but MXIM’s recent underperformance over concerns on Samsung smartphones (20% customer for MXIM) seems overblown – we prefer MXIM to other stocks in the HPA group."
"Our 1QFY13 revenue/pro-forma EPS are $620mn/$0.44 (cons. $621mn/$0.44); FY13E are $2.5bn/$1.79 (cons. $2.5bn/ $1.80); FY14E are $2.7bn/$2.01 (cons. $2.7bn/$2.08)."
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 $27.14 yesterday.
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