Maxim Integrated Products, Inc. (MXIM) Receives Consensus Rating of “Buy” from Brokerages
Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) have been assigned an average recommendation of “Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $47.24.
MXIM has been the subject of a number of research analyst reports. MKM Partners initiated coverage on Maxim Integrated Products in a research report on Friday, April 7th. They issued a “neutral” rating and a $48.00 price target for the company. Macquarie initiated coverage on Maxim Integrated Products in a research report on Friday, March 31st. They issued an “outperform” rating and a $52.00 price target for the company. Zacks Investment Research cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Drexel Hamilton restated a “buy” rating and issued a $52.00 price target (up previously from $46.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $44.00 price target (up previously from $41.00) on shares of Maxim Integrated Products in a research report on Tuesday, April 25th.
In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $46.33, for a total value of $1,158,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Edwin Medlin sold 30,646 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $46.99, for a total value of $1,440,055.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 250,548 shares of company stock worth $11,544,456. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Maxim Integrated Products during the fourth quarter worth about $3,119,000. Aberdeen Asset Management PLC UK raised its stake in shares of Maxim Integrated Products by 4.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 27,004 shares of the semiconductor company’s stock worth $1,042,000 after buying an additional 1,075 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Maxim Integrated Products by 1.7% in the fourth quarter. Bessemer Group Inc. now owns 31,219 shares of the semiconductor company’s stock worth $1,205,000 after buying an additional 513 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Maxim Integrated Products by 20.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,721 shares of the semiconductor company’s stock worth $761,000 after buying an additional 3,335 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of Maxim Integrated Products during the fourth quarter worth about $580,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Maxim Integrated Products (MXIM) traded up 0.52% during trading on Monday, reaching $46.49. 2,652,142 shares of the company’s stock were exchanged. Maxim Integrated Products has a 52 week low of $33.38 and a 52 week high of $49.70. The stock has a 50-day moving average of $46.76 and a 200-day moving average of $43.85. The stock has a market capitalization of $13.14 billion, a PE ratio of 26.72 and a beta of 1.02.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. The business had revenue of $581 million during the quarter, compared to analysts’ expectations of $575.83 million. During the same quarter last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that Maxim Integrated Products will post $2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Tuesday, May 30th. Maxim Integrated Products’s payout ratio is 75.86%.
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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 caters to automotive, communications and data center, computing, consumer and industrial markets.
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