Market Overview

UPDATE: J.P. Morgan Downgrades Maxim Integrated Products to Neutral Following Samsung Business Shortfall

Share:

In a report published Monday, J.P. Morgan analyst Christopher Danely downgraded the rating on Maxim Integrated Products (NASDAQ: MXIM) from Overweight to Neutral, and lowered the price target from $38.00 to $30.00.

In the report, J.P. Morgan noted, “We are downgrading Maxim from Overweight to Neutral as Samsung appears to be experiencing a shortfall in its business and Samsung is Maxim's largest customer at 20%+ of revenue. Our Overweight thesis was based on Samsung continuing to gain share in smartphones and this appears to be reversing as J.P. Morgan's Samsung analyst JJ Park lowered estimates on Samsung cell phones due to a share shift to low-end smartphones and subsidy cut in the domestic market. As a result, we are lowering our estimates, price target, and rating on Maxim to Neutral.”

Maxim Integrated Products closed on Friday at $28.48.

Latest Ratings for MXIM

DateFirmActionFromTo
Oct 2020StifelMaintainsHold
Jul 2020StifelMaintainsHold
Jul 2020Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for MXIM
View the Latest Analyst Ratings

 

Related Articles (MXIM)

View Comments and Join the Discussion!

Posted-In: Christopher Danely J.P. MorganAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
IBIOCantor FitzgeraldInitiates Coverage On3.0
WNSNeedhamMaintains85.0
THCUBSMaintains60.0
UPLDCanaccord GenuityMaintains57.0
EJefferiesInitiates Coverage On
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com