Maxim Integrated Products Soaring on High Volume (MXIM)

Shares of Maxim Integrated Products, Inc. MXIM are screaming higher this morning, currently up by 9.82% and trading at $21.59, after the beat Q2 earnings. MXIM reported EPS of $0.43 on revenues of $626.1 million; this compares to the Street's estimates of $0.37 per shares on revenues of $614 million. Revenues increased 39.4% year over year. FBR Capital Markets upgraded the stock this morning as well, to Outperform, from Perform. Shares have turned over 3,471,949 times within the first 30 minutes of trade, which eclipses to 10-day daily average volume of 3,341,390 shares. So far, 1.15% of the float has turned. Maxim Integrated Products, Inc. designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a large number of customers in diverse geographical locations. Maxim's linear and mixed signal products serve four end-markets: industrial, communications, consumer and computing.