UPDATE: FBR Capital Markets Raises PT to $33 on Maxim Integrated Products

FBR Capital Markets increases its price target from $32 to $33 on Maxim Integrated Products

as robust checks suggest handset gains are likely to continue. FBR Capital Markets notes, "Recent checks are encouraging for Maxim's handset and industrial businesses, and we think 2012 is setting up positively as utilzation rates improve and new design wins ramp Maxim's business higher. Indeed, in handset and tablets, we think Maxim's integration leadership versus peers remains significant, with that advantage translating into outsized design win growth across a variety of segments, including into more Chinese and European handsets. This business should ramp higher than 30% of revenues by year-end, driving continued outperformance versus peers." MXIM closed at $28.38 a share on Monday.