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Downgrade Alert for Maxim Integrated Products (MXIM)

By Amy Schwartz

Maxim Integrated Products (NASDAQ:MXIM) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $33.84 on volume of 4.0 million shares, above average daily volume of 2.0 million.

Maxim Integrated Products has overhead space with shares priced $33.84, or 10.4% below the average consensus analyst price target of $37.77. The stock should find initial resistance at its 200-day moving average (MA) of $35.36 and further resistance at its 50-day MA of $35.69.

Maxim Integrated Products share prices have moved between a 52-week high of $42.18 and a 52-week low of $20.62 and closed yesterday at 64% above that low price at $33.84 per share. The 200-day and 50-day moving averages have moved 0.25% higher and 0.62% higher over the past week, respectively.

Maxim Integrated Products, Inc. designs, develops, manufactures, and markets a broad range of linear and mixed-signal integrated circuits. The Company also provides a range of high-frequency design processes and capabilities that can be used in custom design.

SmarTrend is monitoring the recent change of momentum in Maxim Integrated Products. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Maxim Integrated Products in search of a potential trend change.

Keywords: analyst upgrades/downgrades maxim integrated products

Ticker(s): MXIM