Nomura Securities Reiterates a 'Buy' on Maxim Integrated Products (MXIM); Analyst Day Recap: Shares Undervalued

Nomura Securities reiterates a 'Buy' on Maxim Integrated Products (NASDAQ: MXIM) price target of $30.00.

Analyst, Romit Shah, recapped the company's Analyst Day event, saying, "Maxim’s balanced growth strategy enabled the company to grow faster than its analog peers in the past three years while maintaining strong margins. Riding on the coat tail of Samsung Galaxy S3, smartphones accounted for 33% of total sales last quarter. We believe that Samsung will continue to grow as a percentage of sales and that Apple (Nasdaq: AAPL) will become a more significant customer. In terms of near-term business, management commented that there have been no surprises since the company reported Q2 earnings in late July. Management expects revenue to be flat to up 5% QoQ in Q3."

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 $27.08 yesterday.

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