Maxim Integrated Products Stock Rating Reaffirmed by Raymond James (MXIM)
Maxim Integrated Products (NASDAQ:MXIM)‘s stock had its “strong-buy” rating reaffirmed by equities researchers at Raymond James in a research report issued on Friday. They currently have a $33.00 price objective on the stock, down from their previous price objective of $37.00. Raymond James’ target price would suggest a potential upside of 12.32% from the stock’s previous close.
A number of other analysts have also recently weighed in on MXIM. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Maxim Integrated Products in a research note on Friday. They now have a $35.00 price target on the stock, down previously from $40.00. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Maxim Integrated Products in a research note on Friday. They now have a $36.00 price target on the stock, down previously from $39.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Maxim Integrated Products in a research note on Friday. They now have a $37.00 price target on the stock, down previously from $40.00. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $34.10.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down 10.81% during mid-day trading on Friday, hitting $29.38. The stock had a trading volume of 13,451,157 shares. Maxim Integrated Products has a 52-week low of $26.49 and a 52-week high of $35.76. The stock’s 50-day moving average is $34.29 and its 200-day moving average is $32.30. The company has a market cap of $8.306 billion and a P/E ratio of 24.73.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.48 by $0.05. The company had revenue of $642.50 million for the quarter, compared to the consensus estimate of $650.45 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Maxim Integrated Products will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.81%.
Maxim Integrated Products, Inc (NASDAQ:MXIM) designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a number of customers in diverse geographical locations.
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