Maxim Integrated Products "outperform," target price raised

04/27/07 - Credit Suisse

NEW YORK, April 27 (newratings.com) - Analysts at Credit Suisse maintain their "outperform" rating on Maxim Integrated Products (MXIM), while reducing their estimates for the company. The target price has been raised from $34 to $35.

In a research note published yesterday, the analysts mention that the company has posted its 1Q revenues and EPS in-line with the consensus. Maxim Integrated Products has issued its revenue growth guidance for 2Q at 1%-5%, short of the consensus. Although the near-term performance is likely to be volatile, the company’s revenue growth is expected to return to above-industry growth levels going forward, Credit Suisse adds. The EPS estimates for 2007 and 2008 have been reduced from $1.20 to $1.17 and from $1.47 to $1.46, respectively.