) and Maxim Integrated (MXIM
) to buy from hold.
Analyst Tristan Gerra says June booking concerns are overblown. He says his checks indicate June bookings held rather than fell off a cliff. He notes high-end analog demand remains steady. Gerra expects first quarter fiscal 2003 (June) low-to-mid single digit top-line growth for both companies.
For Linear, Gerra sees $0.62 fiscal 2002 earnings per share and $0.83 for fiscal 2003. For Maxim, he sees $0.75 fiscal 2002 EPS and $1.08 for fiscal 2003. For Linear, Gerra cut the $45 target to $41; he keeps his $52 target for Maxim.