Maxim Integrated Products (NASDAQ:MXIM) Catalysts Compelling for 2011

In spite of a slow down in industrial bookings for, UBS (NYSE:UBS) says there are several catalysts for Maxim Integrated Products (NASDAQ:MXIM) should drive growth in 2011 and onward.

UBS says, "Following our meeting with management at recent CES, we reiterate Buy & raise PT to $29 for following reasons: 1) resilience in underlying revenue growth in industrial despite recent slow down in bookings; 2) continued strong traction in tablets with more than 45 design wins & smart phones where business at Nokia is still at a nascent but growing stage, & 3) potential entry in touch device market with a 10 finger touch controller presents opportunity for future growth.

"We raise F2Q (Dec ’10) Rev/EPS to $621m/$0.44 (cons $607m/$0.41) from, $615m/$0.40. For FY2011, we raise Rev/EPS to $2,502m/$1.76 (cons $2,423m/$1.59) from $2,481m/$1.71 and f.or FY2012 to $2,671m/$2.03 (cons $2,523m/$1.70) from $2,639m/$1.92."

UBS maintains a "Buy" rating on Maxim Integrated Products (MXIM), which closed Tuesday at $26.31, gaining $0.32, or 1.23 percent. UBS boosted their price target on Maxim from $25 to $29.