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UPDATE: Jefferies Upgrades Maxim Integrated Products to Buy on Cost Tailwinds and Yield

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Jefferies raised its rating on Maxim Integrated Products (NASDAQ: MXIM) from Hold to Buy and increased its price target from $29 to $33.

Jefferies noted, "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. 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."

Maxim Integrated Products closed at $26.08 on Wednesday.

Latest Ratings for MXIM

DateFirmActionFromTo
Jul 2014Morgan StanleyDowngradesEqual-weightUnderweight
Jul 2014BarclaysMaintainsEqual-weight
Jul 2014CitigroupMaintainsBuy

View More Analyst Ratings for MXIM
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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