Maxim Integrated Products Inc. (MXIM) Now Covered by Analysts at Maxim Group
Analysts at Maxim Group initiated coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a research report issued to clients and investors on Tuesday. The firm 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 current price.
Other equities research analysts also recently issued research reports about the company. B. Riley reissued a “neutral” rating and issued a $40.00 price target on shares of Maxim Integrated Products in a report on Monday, July 25th. Susquehanna began coverage on Maxim Integrated Products in a report on Tuesday. They issued a “positive” rating for the company. Royal Bank Of Canada lowered their price target on Maxim Integrated Products from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $42.00 target price on shares of Maxim Integrated Products in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.14.
Maxim Integrated Products (NASDAQ:MXIM) traded down 0.16% during midday trading on Tuesday, reaching $38.62. 1,187,223 shares of the company traded hands. Maxim Integrated Products has a 1-year low of $30.28 and a 1-year high of $42.37. The firm has a 50-day moving average of $40.30 and a 200-day moving average of $37.56. The stock has a market capitalization of $10.95 billion, a P/E ratio of 48.89 and a beta of 1.02.
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Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business earned $566 million during the quarter, compared to the consensus estimate of $575.46 million. Maxim Integrated Products had a return on equity of 22.15% and a net margin of 10.36%. On average, analysts predict that Maxim Integrated Products will post $1.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, August 16th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.30. Maxim Integrated Products’s dividend payout ratio is 169.23%.
In related news, VP Edwin Medlin sold 26,552 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $40.07, for a total value of $1,063,938.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tunc Doluca sold 10,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $35.53, for a total value of $355,300.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of MXIM. BlackRock Japan Co. Ltd increased its stake in Maxim Integrated Products by 8.1% in the first quarter. BlackRock Japan Co. Ltd now owns 511,613 shares of the company’s stock valued at $18,817,000 after buying an additional 38,275 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Maxim Integrated Products by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,310,628 shares of the company’s stock valued at $268,885,000 after buying an additional 145,089 shares in the last quarter. BlackRock Group LTD increased its stake in Maxim Integrated Products by 3.8% in the first quarter. BlackRock Group LTD now owns 2,036,382 shares of the company’s stock valued at $74,899,000 after buying an additional 74,121 shares in the last quarter. BlackRock Inc. increased its stake in Maxim Integrated Products by 12.2% in the first quarter. BlackRock Inc. now owns 510,058 shares of the company’s stock valued at $18,760,000 after buying an additional 55,350 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Maxim Integrated Products by 0.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,682,130 shares of the company’s stock valued at $61,869,000 after buying an additional 7,922 shares in the last quarter. Hedge funds and other institutional investors own 90.51% of the company’s stock.
Maxim Integrated Products Company Profile
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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