Maxim Integrated Products, Inc. (NASDAQ:MXIM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Maxim is an OEM of analog and mixed signal ICs. The fiscal third-quarter earnings of the company were above the Zacks Consensus Estimate.  However, over the last one year, the stock has underperformed the Zacks characterized Semi- Analog & Mixed industry. Maxim has a solid portfolio that generates steady design wins, a highly profitable and well-diversified core business, a policy of maintaining efficiency that has led to cost cutting measures and regular cash returns.  Maxim’s exposure to the consumer and communications markets increases risks. However, the diversification of the consumer revenue across a variety of tablets, wearables, peripherals and smartphones is adding stability to the company’s business profile.”

MXIM has been the topic of several other research reports. Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Citigroup Inc. restated a “neutral” rating and set a $44.00 price objective (up previously from $41.00) on shares of Maxim Integrated Products in a report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and set a $49.00 price objective (up previously from $44.00) on shares of Maxim Integrated Products in a report on Friday, April 14th. B. Riley restated a “neutral” rating and set a $44.00 price objective on shares of Maxim Integrated Products in a report on Friday, April 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $54.00 price objective (up previously from $52.00) on shares of Maxim Integrated Products in a report on Friday, May 26th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Buy” and a consensus target price of $47.39.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down 1.27% during mid-day trading on Tuesday, hitting $45.90. 1,363,890 shares of the stock were exchanged. The stock has a 50-day moving average price of $46.82 and a 200 day moving average price of $43.98. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 26.38 and a beta of 1.02. Maxim Integrated Products has a 52-week low of $33.38 and a 52-week high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Maxim Integrated Products had a net margin of 22.16% and a return on equity of 26.73%. The firm had revenue of $581 million for the quarter, compared to the consensus estimate of $575.83 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that Maxim Integrated Products will post $2.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $1.32 annualized dividend and a yield of 2.84%. Maxim Integrated Products’s dividend payout ratio is presently 75.86%.

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In other Maxim Integrated Products news, CEO Tunc Doluca sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $44.49, for a total value of $533,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher J. Neil sold 51,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $44.24, for a total value of $2,256,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,548 shares of company stock worth $11,544,456. Insiders own 1.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in shares of Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after buying an additional 764 shares during the period. Duncker Streett & Co. Inc. raised its position in shares of Maxim Integrated Products by 57.8% in the first quarter. Duncker Streett & Co. Inc. now owns 2,374 shares of the semiconductor company’s stock worth $107,000 after buying an additional 870 shares during the period. TrimTabs Asset Management LLC raised its position in shares of Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,344 shares during the period. Toronto Dominion Bank raised its position in shares of Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock worth $139,000 after buying an additional 642 shares during the period. Finally, WFG Advisors LP raised its position in shares of Maxim Integrated Products by 119.5% in the fourth quarter. WFG Advisors LP now owns 3,854 shares of the semiconductor company’s stock worth $221,000 after buying an additional 2,098 shares during the period. Institutional investors and hedge funds own 89.52% 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 caters to automotive, communications and data center, computing, consumer and industrial markets.

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