Maxim Integrated (MXIM) PT Raised at RBC Capital Post Q3

RBC Capital analyst Doug Freedman reiterated an Outperform rating on Maxim Integrated Products (NASDAQ: MXIM) and boosted his price target from $34 to $35 following Q1 results.

Freedman comments, "MXIM is beginning to benefit from seasonal consumer (incl Samsung), industrial (auto) and China LTE ramp. EPS leverage could accelerate on improving utilizations and mix in the coming quarters. Co remains an attractive ‘removal of a discount’ story (vs. analog peers: P/E -18%, EV/EBITDA -24% on FY15), as end-markets become more diversified, and success of newer initiatives become more transparent."

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 $32.99 yesterday.

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