Consider the two strong entrants in analog semiconductors, the devices that monitor and amplify signals: Linear Technology ( LLTC, 31) and Maxim Integrated Products ( MXIM, 27).

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For example, an investor could combine Pfizer ( PFE), Verizon ( VZ), Southern Copper ( SCCO), Simon Property Group ( SPG), Paychex ( PAYX), Maxim Integrated Products ( MXIM) and R.

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Ellis notes that the stock is cheap, but suggests investors deploy new money in other stocks where order re-acceleration and fundamental catalyst prospects are brighter, including Analog Devices, Maxim Integrated Products and Texas Instruments.

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Citing the warning late yesterday by chip maker Microchip Technology, UBS analysts Uche Orji and Parag Agarwal this morning downgraded shares of not only Microchip, but also Maxim Integrated Products and ON Semiconductor.

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Macquarie Research analyst Shawn Webster asserted in a research note earlier today that both Maxim Integrated Products (MXIM) and Xilinx (XLNX) could both see some production disruption as a result of the earthquake in Japan.

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