Maxim Integrated Products Stock Rating Lowered by Goldman Sachs (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) was downgraded by equities researchers at Goldman Sachs from a “conviction-buy” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
In other Maxim Integrated Products news, CEO Tunc Doluca unloaded 2,000 shares of Maxim Integrated Products stock on the open market in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $30.00, for a total transaction of $60,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of Maxim Integrated Products from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, July 30th. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Maxim Integrated Products in a research note on Friday, July 25th. They now have a $28.00 price target on the stock, down previously from $31.00. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Maxim Integrated Products in a research note on Friday, July 25th. They now have a $33.00 price target on the stock, down previously from $37.00. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Maxim Integrated Products presently has a consensus rating of “Buy” and a consensus target price of $34.11.
Maxim Integrated Products (NASDAQ:MXIM) opened at 30.74 on Monday. Maxim Integrated Products has a 1-year low of $27.18 and a 1-year high of $35.76. The stock’s 50-day moving average is $32.1 and its 200-day moving average is $32.45. The company has a market cap of $8.713 billion and a P/E ratio of 24.87.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 24th. The company reported $0.43 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.44 earnings per share. Maxim Integrated Products’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Maxim Integrated Products will post $1.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 4th. Investors 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 3.64%. The ex-dividend date is Tuesday, August 19th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.26.
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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