UPDATE: Raymond James Upgrades Maxim Integrated Products, Inc. to Strong Buy, Raises PT to $37.00

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In a research note published Monday morning, Raymond James upgraded Maxim Integrated (NASDAQ: MXIM) from Outperform to Strong Buy; the price target was raised from $33 to $37.Analyst J. Steven Smigie said,"Maxim's gains in the mobile sector have allowed the company to outperform comparables."Other notable catalyst for both the ratings upgrade and price target increase:

27% profit every 20 days?

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Maxim is indicating growing dollar content with Samsung
Maxim has among the highest gross margins and should have one of the best revenue growth rates in the mobile sector
Maxim's valuation is one of the lowest in the group, which creates a positive risk/reward profile.

Maxim shares are up 2.2 percent to around $30.29 at last check.