FBR Reiterates its Outperform, $32 Target on Maxim
FBR maintains its Outperform rating and $32 target price on Maxim (NASDAQ: MXIM) on a respectable guidance and optimistic outlook on handset sales in 2012.
FBR says, "Thursday, Maxim reported solid calendar 4Q11 financial results, and guided calendar 1Q12 sales and gross margins a bit weaker than Street estimates, but to still very respectable levels compared to most peers across a range of cyclical compression metrics. Importantly, 2012 is setting up well for Maxim in smartphone power management sockets (about 31% of revenues now) after a very successful 2011."
MXIM closed at $27.37 a share on Thursday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.