J.P. Morgan has published a report on Maxim Integrated Products MXIM reiterating an Underweight rating.
In the report, J.P. Morgan wrote, "Yesterday before the open, Maxim announced it has acquired privately held SensorDynamics for approximately $130.0 million in cash plus the assumption of approximately $34.0 million in debt. Maxim stated SensorDynamics' current revenue base is negligible but expects a significant revenue ramp in F13. The acquisition closed on July 15. We reiterate our Underweight rating on Maxim stock due to valuation."
J.P. Morgan rated Maxim at Underweight with a price target of $20.50. Maxim closed Monday evening at $23.01.
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Posted In: Analyst ColorAnalyst RatingsInformation TechnologyJ.P. MorganMaxim Integrated ProductsSemiconductors
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