Jefferies Upgrades Maxim Integrated Products (MXIM) to Buy

Jefferies upgraded Maxim Integrated Products (NASDAQ: MXIM) from Hold to Buy with a price target of $33.00 (from $29.00).

"We think MXIM benefits as chipmakers on leading edge processes see transistor cost curves flatten, and we believe its Mixed Signal/Analog capabilities uniquely positions it to outgrow the industry over the next several years," the firm said. "We also like the 3.7% dividend yield, one of the highest in the semis, and believe that it is undervalued base on its growth and dividend payout."

FY12 EPS was raised from $1.82 to $1.85.

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 $26.09 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• New Street Research Upgrades Micron Technology (MU) to Buy
• Calian Group Ltd (CGY:CN) (CLNFF) PT Raised to Cdn$109 at Desjardins
• Sansera Engineering Ltd (SANSERA:IN) PT Raised to INR4,250 at ICICI Securities