Maxim Integrated upgraded to Buy from Neutral at Citigroup Citigroup upgraded Maxim Integrated to Buy citing the company's new product design wins. Citi sees upside in Maxim shares following new content in the Samsung S5 and potentially Apple's next gen iPhone 6. Citi raised its price target for shares to $40 from $35.
Maxim estimates lowered on weaker Galaxy S6 demand at Citi Citi lowered its estimates for Maxim Integrated to reflect what it believes to be slowing demand for Samsung's Galaxy S6 smartphone. Maxim derives around 8% of its 2015 revenue from the Galaxy S6, the firm points out. The estimate cuts come after Citi's Samsung analyst lowered his 2015 Galaxy S6 shipment estimate by 14% due to weaker demand in Q2. The firm points out its checks also indicate Maxim could lose content in the next generation Samsung Galaxy S7 smartphone in 2016. It keeps a Neutral rating on the stock with a $35 price target.