UPDATE: Maxim Integrated Products Receives Rating Bump from Barclays, Up 4.5 Percent

In a report published Tuesday, analyst Blayne Curtis of Barclays upgrades Maxim Integrated Products (NASDAQ: MXIM) to an Overweight rating from Equal Weight, upping price target to $35 from $28.

Curtis notes the driving factors behind the rating boosts,

"(1) we have gained further confidence that MXIM's content in the Samsung GS5 is increasing with a Bio Sensor win and additional building block sockets; and (2) we see additional opportunities in Mobile with new products (Bio Sensor, Audio, Touch, MEMs) to return the Consumer to growth."

MXIM closed Monday at $28.59 and is trading up 4.58% around $29.40.