Maxim Integrated Provides Investors with Bullish Long-Term Targets; Maintain $37 FVE
Maxim Integrated provided investors with an update to its long-term financial model, calling for further gross margin and operating margin expansion, even while taking a more conservative stance about growing revenue at only a market rate (versus the firm's prior target of growing 1.5 times faster than the analog industry). Most of the firm's targets over the next three to five years are modestly ahead of our assumptions, which we are maintaining in light of the firm's update, but are achievable...Maxim Integrated Products designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The company's linear and mixed signal products serve the Automotive, Communications and Data Center, Computing, Consumer, and Industrial end-markets. The company primarily utilizes third party foundries as well as its own wafer fabrication facilities for the production of its wafers. The company markets its products worldwide through a direct-sales and applications organization and through its own and other unaffiliated distribution channels.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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