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July 24, 2014
16:20 EDTMXIMMaxim Integrated reports Q4 EPS ex-items 43c, consensus 48c
Reports Q4 revenue $642.47M, consensus $650.35M.
News For MXIM From The Last 14 Days
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November 18, 2015
09:23 EDTMXIMTowerJazz to acquire Maxim Integrated facility in San Antonio
TowerJazz (TSEM) has signed an agreement with Maxim Integrated (MXIM) to purchase Maxim's 8-inch fabrication facility in San Antonio, Texas. The proposed purchase will expand TowerJazz's current worldwide manufacturing capacity, cost-effectively increasing production by approximately 28K wafers per month. TowerJazz and Maxim expect to close the transaction in January 2016. As part of the transaction, the companies have also signed a long-term supply agreement for TowerJazz to manufacture products for Maxim in the San Antonio facility. The transaction is to be paid with TSEM ordinary shares with a total value of approximately $40M. All of the site's nearly 500 employees will be retained.
08:19 EDTMXIMRBC Capital to hold a tour
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November 17, 2015
10:33 EDTMXIMCiti says Xilinx, not Maxim, likely to be acquired
According to Citi, analog chip maker Maxim Semiconductor (MXIM) probably won't be acquired, despite Bloomberg reports which stated that Texas Instruments (TXN) and Analog Devices (ADI) had held talks about potentially buying the company. The firm sees Xilinx (XLNX) as the only large cap chip maker remaining that has "all of the attributes of a good takeover target." WHAT'S NEW: The only two companies capable of buying Maxim are Texas Instruments and Analog Devices, Citi analyst Christopher Danely wrote in a note to investors today. However, Maxim's valuation is too high for Texas Instruments and the deal would be too big for Analog Devices, the analyst stated. However, Xilinx is a potential takeover target, partly due to its high margins, a size large enough that it could impact an acquirer's profits and its cost cutting opportunities, Danely stated. One potential acquirer of Xilinx is Qualcomm (QCOM), which has suggested that it could be interested in M&A opportunities in the future, the analyst wrote. Despite his belief that Xilinx could be acquired, Danely kept a Neutral rating on the shares. WHAT'S NOTABLE: On October 14, Bloomberg reported that Analog Devices and Maxim were in merger talks. On October 28, the news service reported that Texas Instruments was in talks about buying Maxim. According to Bloomberg, Maxim was working with a bank on a strategic review before it was approached by Analog Devices. Maxim may not want to sell itself unless it receives a large premium, the news service stated. PRICE ACTION: In early trading, Maxim was flat near $38.86 per share, while Xilinx gained 1.5% to $47.83.
08:54 EDTMXIMMaxim could be bidder for Fairchild, says Citi
Citi analyst Atif Malik views Maxim Integrated (MXIM) as a potential acquirer Fairchild Semiconductor (FCS). Bloomberg on October 13 reported that Fairchild was seeking advice for a potential sale, and listed potential acquirers as STMicroelectronics (STM), Infineon (IFNNY) and ON Semiconductor (ON). Bids from STM and ON seem unlikely, but Infineon and Maxim could be potential acquirers of Fairchild, Malik tells investors in a research note. In a bull case scenario, Fairchild's buyout value could reach $25 per share, the analyst contends. Fairchild closed yesterday at $17.76. Malik's peer at Citi, analyst Christopher Danely, argued today in research note that Maxim Integrated (MXIM) is unlikely to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Danely views Xilinx (XLNX) as a potential takeout target, potentially for Qualcomm (QCOM).
08:37 EDTMXIMCiti sees Xilinx, not Maxim, as potential takeout candidate
Citi analyst Christopher Danely says he does not expect Maxim Integrated (MXIM) to get acquired despite reports of interest from Analog Devices (ADI) and Texas Instruments (TXN). Xilinx (XLNX) is the only large-cap semiconductor company left with "all of the attributes of a good takeover target," Danely tells investors in a research note. He believes Xilinx management could be willing sellers at the right price, and points out Qualcomm (QCOM) has a history of doing deals. Xilinx could make a good candidate for Qualcomm, Danely contends.
November 10, 2015
13:33 EDTMXIMApple, suppliers fall after analyst calls out reduced iPhone component orders
Apple (AAPL) shares, as well as those of a number of its chip suppliers, are dropping following a bearish note by Credit Suisse, whose checks pointed to reduced iPhone component orders heading into 2016. DECLINING IPHONE ORDERS: Following checks on Apple's Asian supply chain over the weekend, Credit Suisse analyst John Pitzer and his team cut estimates for iPhone shipments going forward into 2016. The research firm now sees first quarter units down 10.4% year-over-year to just 55M, and calendar year 2016 unit shipments down 5.5% to 222M. The team had previously forecast a respective 63M and 242M for those periods, but cut expectations in the face of apparently reduced supplier orders from Apple for the iPhone 6s. Credit Suisse notes that chip suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS). Already cautious on Apple and other smartphone plays, the research firm reiterated its bearish view on the sector due to high market penetration, saying it instead prefers chip names levered to industrial, auto, and infrastructure applications, such as Linear Technology (LLTC), Maxim (MXIM), Cypress (CY) and ON Semiconductor (ON). IVES SAYS BUY: The Credit Suisse research note comes on the heels of a more bullish take by FBR yesterday, with the firm's Daniel Ives saying many investors "are not seeing the forest through the trees" when it comes to Apple. He characterized supply chain worries as "chatter" and lackluster Apple Watch sales as "bumps in the roads." More important, said Ives, is the "major inflection point period" which the company is entering, with streaming TV, iPad Pro, the $100B iPhone market opportunity in China, and a "blockbuster" iPhone 7 all approaching on the horizon, leading Ives to reiterate an Outperform rating and $175 price target on the shares. SUPPLIER PRICE ACTION: Despite FBR's confidence in Apple, smartphone component suppliers moved broadly lower after Tuesday's note from the Credit Suisse team. Avago has declined 3.8% to $121.67, while Broadcom, Skyworks (SWKS), and Qorvo (QRVO) lost a respective 2.1%, 5.1%, and 4.2%. Meanwhile, Apple shares are down 3.3% to $116.63.

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