Maxim Integrated Products Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:MXIM)
Maxim Integrated Products (NASDAQ:MXIM) has earned a consensus recommendation of “Buy” from the twenty-two ratings firms that are covering the company, American Banking & Market News reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.11.
A number of research firms have recently commented on MXIM. Analysts at Goldman Sachs downgraded shares of Maxim Integrated Products from a “conviction-buy” rating to a “buy” rating in a research note on Monday, August 18th. Separately, 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. Finally, 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.
Maxim Integrated Products (NASDAQ:MXIM) opened at 31.14 on Monday. Maxim Integrated Products has a 1-year low of $27.40 and a 1-year high of $35.76. The stock has a 50-day moving average of $31.47 and a 200-day moving average of $32.52. The company has a market cap of $8.842 billion and a price-to-earnings ratio of 25.08. Maxim Integrated Products also was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 7,487,002 shares, a growth of 20.1% from the July 31st total of 6,232,695 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily trading volume, of 2,302,546 shares, the days-to-cover ratio is presently 3.3 days.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. 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. 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 3.60%. The ex-dividend date is Tuesday, August 19th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.26.
In other Maxim Integrated Products news, VP Steven T. Yamasaki sold 11,600 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $31.05, for a total transaction of $360,180.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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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