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Maxim Integrated Products (MXIM) Reports In-Line 1Q Results; RBC Capital Cuts Price Target to $40

October 23, 2015 9:11 AM EDT
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Price: $103.14 --0%

Rating Summary:
    9 Buy, 20 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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RBC Capital reiterated a Sector Perform rating on Maxim Integrated Products (NASDAQ: MXIM), and cut the price target to $40.00 (from $41.00), following the company's 1Q16 earnings results. MXIM reported results that met Street expectations with revenues/EPS of $562.5M/ $0.42 vs. Street at $564.2M/ $0.41.

Analyst Amit Daryanani commented, "MXIM reported Sept-qtr results of $563M/ $0.42, which was inline with Street expectations on the revenue/EPS lines (Street at $564M/ $0.41). MXIM guided revenues/EPS above/below Street expectations for the Dec-qtr at $490-520M/$0.29-$0.35 ($505M/$0.32 at the midpoints) vs. Street at $554M/$0.41."

For an analyst ratings summary and ratings history on Maxim Integrated Products click here. For more ratings news on Maxim Integrated Products click here.

Shares of Maxim Integrated Products closed at $39.12 yesterday.



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