Maxim Integrated (MXIM) Target, Estimates Lifted at MKM Partners Ahead of Q3 Print

MKM Partners analyst Ian Ing raised estimates and his price target on Buy-rated Maxim Integrated Products (NASDAQ: MXIM) from $33 to $36.20 ahead of Q3 results on April 24th after the close.

Ing said, "We have improved expectations on smartphone secular growth via positive trends in flagship content, China OEMs, and overall Samsung inventory replenishment. We also note that MXIM has valuation support given ~7% free cash flow yield, of which 133% has been returned to shareholders in the prior eight quarters. We like the stock here on improving fundamentals throughout CY14."

The firm raised Q3 EPS from $0.39 to $0.40 while maintaining FY 2014 EPS at $1.62. The firm raised FY 2015 EPS from $1.96 to $2.03.

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 $32.51 yesterday.

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