UPDATE: Jefferies Upgrades Maxim Integrated Products to Buy on Cost Tailwinds and Yield
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
|Jan 2017||Bank of America||Upgrades||Neutral||Buy|
|Dec 2016||Loop Capital||Initiates Coverage On||Buy|
|Sep 2016||RBC Capital||Downgrades||Outperform||Sector Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.