Maxim Integrated Products Inc. (MXIM) Research Coverage Started at Susquehanna
Equities researchers at Susquehanna initiated coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a report issued on Tuesday. The brokerage set a “positive” rating on the stock.
MXIM has been the topic of a number of other reports. Royal Bank Of Canada lowered their target price on Maxim Integrated Products from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. B. Riley reaffirmed a “neutral” rating and set a $40.00 target price on shares of Maxim Integrated Products in a report on Monday, July 25th. Barclays PLC lifted their price target on Maxim Integrated Products from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 20th. Drexel Hamilton reissued a “buy” rating and issued a $42.00 price target on shares of Maxim Integrated Products in a research note on Monday, July 25th. Finally, BMO Capital Markets cut Maxim Integrated Products from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a research note on Tuesday, July 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. Maxim Integrated Products presently has a consensus rating of “Hold” and an average target price of $39.68.
Maxim Integrated Products (NASDAQ:MXIM) traded up 0.57% during midday trading on Tuesday, hitting $38.90. 390,023 shares of the company traded hands. The stock has a 50 day moving average of $40.30 and a 200 day moving average of $37.56. The stock has a market cap of $11.03 billion, a P/E ratio of 49.24 and a beta of 1.02. Maxim Integrated Products has a 12-month low of $30.28 and a 12-month high of $42.37.
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Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 21st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $566 million for 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%. Equities research analysts predict that Maxim Integrated Products will post $1.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This is a boost 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 payout ratio is currently 169.23%.
In related news, Director William D. Watkins sold 60,786 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.08, for a total value of $2,497,088.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Vivek Jain sold 3,273 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $41.42, for a total value of $135,567.66. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Gulf International Bank UK Ltd raised its stake in shares of Maxim Integrated Products by 5.1% in the second quarter. Gulf International Bank UK Ltd now owns 82,384 shares of the company’s stock valued at $2,940,000 after buying an additional 4,000 shares in the last quarter. National Pension Service raised its stake in shares of Maxim Integrated Products by 4.6% in the first quarter. National Pension Service now owns 207,359 shares of the company’s stock valued at $7,627,000 after buying an additional 9,056 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of Maxim Integrated Products by 67.6% in the first quarter. OLD National Bancorp IN now owns 26,025 shares of the company’s stock valued at $957,000 after buying an additional 10,494 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Maxim Integrated Products by 1,822.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 30,641 shares of the company’s stock valued at $1,094,000 after buying an additional 29,047 shares in the last quarter. Finally, Moore Capital Management LP bought a new stake in shares of Maxim Integrated Products during the first quarter valued at approximately $3,678,000. 90.51% of the stock is currently owned by institutional investors and hedge funds.
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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