Zacks Investment Research upgraded shares of Maxim Integrated Products, Inc. (MXIM) from UNDERPERFORM to NEUTRAL on March 27, 2014, with a target price of $34.00.
Maxim is an OEM of analog and mixed signal ICs. December quarter earnings beat the Zacks Consensus Estimate but guidance was slightly disappointing. So while Maxim remains a highly profitable and well-diversified business with a solid portfolio and returning cash to investors at regular intervals, we believe its exposure to the consumer and computing markets increases risks. Also, customer concentration and increased volatility in results may be expected. However, considering its solid design wins and valuation, we are upgrading Maxim shares to Neutral.
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