Maxim Integrated Products, Inc. (NASDAQ:MXIM)‘s stock had its “buy” rating reaffirmed by Maxim Group in a research note issued to investors on Wednesday.

MXIM has been the topic of a number of other reports. Drexel Hamilton restated a “buy” rating and set a $52.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday. Loop Capital restated a “buy” rating and set a $53.00 price objective on shares of Maxim Integrated Products in a research note on Thursday, August 31st. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. Finally, BidaskClub upgraded shares of Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $48.06.

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down 1.06% on Wednesday, reaching $45.87. The company had a trading volume of 1,766,170 shares. The company has a market capitalization of $12.94 billion, a price-to-earnings ratio of 23.17 and a beta of 1.04. Maxim Integrated Products has a 12 month low of $37.25 and a 12 month high of $49.70. The stock has a 50 day moving average price of $45.23 and a 200-day moving average price of $45.61.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The business had revenue of $602 million for the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Maxim Integrated Products will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products announced that its board has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

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In other Maxim Integrated Products news, CEO Tunc Doluca sold 12,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $44.72, for a total transaction of $536,640.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Edward Grady sold 30,849 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total value of $1,389,438.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,883 shares of company stock worth $6,051,983. Corporate insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Shell Asset Management Co. grew its stake in Maxim Integrated Products by 0.3% during the 1st quarter. Shell Asset Management Co. now owns 18,656 shares of the semiconductor company’s stock valued at $839,000 after acquiring an additional 54 shares in the last quarter. Fiera Capital Corp grew its stake in Maxim Integrated Products by 0.7% during the 2nd quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock valued at $700,000 after acquiring an additional 107 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Maxim Integrated Products by 2.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock valued at $398,000 after acquiring an additional 181 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in Maxim Integrated Products by 5.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,248 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 234 shares in the last quarter. Finally, Weaver C. Barksdale & Associates Inc. grew its stake in Maxim Integrated Products by 0.8% during the 2nd quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock valued at $1,421,000 after acquiring an additional 240 shares in the last quarter. 90.14% of the stock is currently owned by 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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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