Story updated at 10 a.m. to reflect market activity.
Shares of Maxim gained 0.6% to $32.69 in morning trading.
The firm maintained it's "buy" rating for the stock. Analyst Ian Ing also raised EPS estimates for Maxim, given better smartphone and industrial trends.
"Maxim is expected to report 3QFY14 earnings on April 24. We are raising our estimates and 12-month price target on MXIM from $33 to $36.20," Ing wrote. "We have improved expectations on smartphone secular growth via positive trends in flagship content, China OEMs, and overall Samsung inventory replenishment. We also note that MXIM has valuation support given ~7% free cash flow yield, of which 133% has been returned to shareholders in the prior eight quarters. We like the stock here on improving fundamentals throughout CY14."
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Separately, TheStreet Ratings team rates MAXIM INTEGRATED PRODUCTS as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MAXIM INTEGRATED PRODUCTS (MXIM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."