Maxim Group Begins Coverage on Maxim Integrated Products Inc. (MXIM)
Maxim Group began coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a research note issued on Tuesday. The brokerage set a “positive” rating and a $50.00 price target on the stock. Maxim Group’s price objective indicates a potential upside of 29.27% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Susquehanna assumed coverage on Maxim Integrated Products in a research note on Tuesday. They set a “positive” rating for the company. Pacific Crest restated an “overweight” rating on shares of Maxim Integrated Products in a research note on Thursday, September 15th. RBC Capital Markets restated a “sector perform” rating and set a $40.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Royal Bank Of Canada lowered Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, September 7th. Finally, Barclays PLC upped their target price on Maxim Integrated Products from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.14.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down 0.16% during midday trading on Tuesday, hitting $38.62. The stock had a trading volume of 1,174,573 shares. The stock has a 50 day moving average of $40.30 and a 200-day moving average of $37.56. The company has a market cap of $10.95 billion, a P/E ratio of 48.89 and a beta of 1.02. Maxim Integrated Products has a one year low of $30.28 and a one year high of $42.37.
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Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company earned $566 million during the quarter, compared to analyst estimates of $575.46 million. Maxim Integrated Products had a return on equity of 22.15% and a net margin of 10.36%. Analysts forecast that Maxim Integrated Products will post $1.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a $0.33 dividend. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 3.41%. The ex-dividend date was Tuesday, August 16th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 169.23%.
In related news, CEO Tunc Doluca sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $40.86, for a total value of $919,350.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Edwin Medlin sold 26,552 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $40.07, for a total value of $1,063,938.64. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Maxim Integrated Products by 4.5% in the second quarter. Vanguard Group Inc. now owns 24,392,190 shares of the company’s stock valued at $870,558,000 after buying an additional 1,054,328 shares in the last quarter. FMR LLC boosted its stake in Maxim Integrated Products by 0.3% in the second quarter. FMR LLC now owns 21,422,164 shares of the company’s stock valued at $764,557,000 after buying an additional 71,389 shares in the last quarter. American Century Companies Inc. boosted its stake in Maxim Integrated Products by 18.1% in the second quarter. American Century Companies Inc. now owns 9,717,183 shares of the company’s stock valued at $346,806,000 after buying an additional 1,486,323 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Maxim Integrated Products by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,587,243 shares of the company’s stock valued at $315,838,000 after buying an additional 1,244,517 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Maxim Integrated Products by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 8,284,543 shares of the company’s stock valued at $294,834,000 after buying an additional 230,631 shares in the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.
About Maxim Integrated Products
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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