Long Position on MXIM @ $45.50 on 2/8/2017 (Momentum)

Maxim Integrated Products, Inc. (MXIM) designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits in the United States, China, other countries in Asia, Europe, and internationally.

It also provides a range of high-frequency process technologies and capabilities for use in custom designs.

The company serves automotive, communications and data center, computing, consumer, and industrial markets. It markets its products through a direct-sales and applications organization, as well as through its own and other unaffiliated distribution channels. 

Shares are in the process of moving higher of their bullish "flag" formation. MXIM reported second-quarter fiscal 2017 adjusted earnings of 46 cents per share, 3 cents above the the Consensus Estimate. Also, earnings were up 29.9% from the year-ago quarter. The non-GAAP gross margin was 64.1%, up 5 basis points (bps) sequentially and 361 bps year over year. Higher share prices are expected for this stock.

52-Weeks Trading Range: $30.48 - $45.54

Entry Point: $45.50

Stop Loss: $43.20

Target Price: $50.05 

Updates

3/28/2017 10:31:46 AM

MXIM closed at $45.00

Position closed on 3/28/2017 at price of $45.00 with a -1.10% loss in 48 days.

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