Loop Capital Markets Sticks to Its Buy Rating for Maxim Integrated

By Jason Carr

In a report released today, Betsy Van Hees from Loop Capital Markets reiterated a Buy rating on Maxim Integrated (NASDAQ: MXIM), with a price target of $53. The company’s shares closed yesterday at $45.56.

Van Hees commented:

“We reiterate our Buy rating and $53 PT on Maxim Integrated Products, Inc. (MXIM) ahead of the company’s conference call on Tuesday, September 5, 2017 at 5:00 PM ET where MXIM plans to update its business model. We hosted our “Loop” Around Silicon Valley – Summer 2017 Semiconductor Bus Tour on August 15 and August 16. We met with executives from 12 leading semiconductor companies on the tour including MXIM’s Vice President Investor Relations, Kathy Ta. With the timing of our bus tour being at the midpoint of MXIM’s quarter, we came away from our meeting with the sense that MXIM was likely being conservative when it provided FQ1 (Sep) 2018 outlook that was below expectations. We believe following our recent industry checks and MXIM’s plans to update its business model that the takeaway from our bus tour was likely correct.”

According to TipRanks.com, Hees is a 5-star analyst with an average return of 20.3% and a 63.9% success rate. Hees covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and Texas Instruments.

Maxim Integrated has an analyst consensus of Moderate Buy, with a price target consensus of $49.50.

The company has a one year high of $49.70 and a one year low of $37.25. Currently, Maxim Integrated has an average volume of 2.22M.

Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Robert Edward Grady, a Director at MXIM sold 30,849 shares for a total of $1,389,130.

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Maxim Integrated Products, Inc. designs, develops, manufactures and markets a broad range of linear and mixed-signal integrated circuits. Its products include integrated power circuits, amplifiers, data converters, analog filters, transceivers, expanders, level translators, broadband switches, powerline communications, microcontrollers, data loggers, ibutton, solar energy, and automotive. The company was founded by Jack F. Gifford in 1983 and is headquartered in San Jose, CA.