Maxim Integrated Products Inc. (MXIM) Now Covered by Analysts at Susquehanna
Investment analysts at Susquehanna started coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a research report issued to clients and investors on Tuesday. The brokerage set a “positive” rating on the stock.
Several other analysts have also recently issued reports on the company. Jefferies Group restated a “buy” rating and set a $42.00 price objective (up previously from $41.00) on shares of Maxim Integrated Products in a research note on Tuesday, July 26th. Pacific Crest restated an “overweight” rating on shares of Maxim Integrated Products in a research note on Thursday, September 15th. RBC Capital Markets reaffirmed an “outperform” rating and set a $40.00 target price on shares of Maxim Integrated Products in a report on Monday, August 15th. Bank of America Corp. lowered Maxim Integrated Products from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $39.00 in a report on Monday, June 27th. Finally, BMO Capital Markets lowered Maxim Integrated Products from an “outperform” rating to a “market perform” rating and set a $39.00 target price for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. Maxim Integrated Products has an average rating of “Hold” and an average price target of $39.68.
Maxim Integrated Products (NASDAQ:MXIM) traded up 0.88% during midday trading on Tuesday, reaching $39.02. The company’s stock had a trading volume of 207,248 shares. Maxim Integrated Products has a 1-year low of $30.28 and a 1-year high of $42.37. The company has a 50 day moving average of $40.30 and a 200-day moving average of $37.56. The company has a market capitalization of $11.06 billion, a P/E ratio of 49.39 and a beta of 1.02.
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Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Maxim Integrated Products had a return on equity of 22.15% and a net margin of 10.36%. The firm had revenue of $566 million for the quarter, compared to analysts’ expectations of $575.46 million. Equities research analysts anticipate that Maxim Integrated Products will post $1.96 earnings per share for the current fiscal year.
The business 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. The ex-dividend date was Tuesday, August 16th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.41%. Maxim Integrated Products’s dividend payout ratio is 169.23%.
In other Maxim Integrated Products news, Director William D. Watkins sold 60,786 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $41.08, for a total transaction of $2,497,088.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tunc Doluca sold 22,500 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $40.86, for a total transaction of $919,350.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of MXIM. KAMES CAPITAL plc increased its position in Maxim Integrated Products by 4.1% in the second quarter. KAMES CAPITAL plc now owns 570,500 shares of the company’s stock valued at $20,361,000 after buying an additional 22,232 shares during the last quarter. Royal Bank of Canada increased its position in Maxim Integrated Products by 29.6% in the second quarter. Royal Bank of Canada now owns 141,738 shares of the company’s stock valued at $5,059,000 after buying an additional 32,403 shares during the last quarter. IFP Advisors Inc increased its position in Maxim Integrated Products by 31.3% in the second quarter. IFP Advisors Inc now owns 2,874 shares of the company’s stock valued at $103,000 after buying an additional 685 shares during the last quarter. Calvert Investment Management Inc. acquired a new position in Maxim Integrated Products during the second quarter valued at approximately $559,000. Finally, Schwab Charles Investment Management Inc. increased its position in Maxim Integrated Products by 60.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,265,569 shares of the company’s stock valued at $45,169,000 after buying an additional 477,796 shares during the last quarter. 90.51% of the stock is currently owned by hedge funds and other institutional investors.
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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