UPDATE: Goldman Sachs Color on Maxim Target Increase

Goldman Sachs, which raised its PT on shares of Maxim Integrated Products Inc. (NASDAQ: MXIM), is providing some color on the stock.

“Maxim did a better job at controlling costs and integrating its acquisitions than we had expected, with our CY11 and CY12 EPS estimates up about 15% and 10%, respectively, since we downgraded the stock to Sell,” Goldman Sachs writes. “In addition, we believe that Maxim could be successful longer-term with its recently announced touch control product, a market that we estimate could represent a $700 mn to $1.4 bn opportunity in 2013. Taken together, we raise our estimate of normalized EPS to $1.65 from $1.35.”

Maxim Integrated Products closed Monday at $27.29.