JMP Securities downgraded the communications-chip provider to market perform from market outperform, mostly on the stock's gain of 20% since July. Despite those troubles, he reiterated his buy rating on Maxim shares and $39 stock price-target, saying the chipmaker's main business is doing fine. UBS analyst Uche Orji said Maxim faces an increased risk of being delisted from Nasdaq until it does so. In addition, Maxim is struggling to wrap up its internal investigation into past stock option grants. Qualcomm said revenue is expected to come in "at or slightly above the high end" of the previously expected range of $2.15 billion to $2.25 billionĭropped 2.7% to $28.21 after the maker of analog chips used in cell phones and other electronics was dropped from the S&P500 Index.
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