Maxim Integrated Products, Inc. (NASDAQ:MXIM)‘s stock had its “hold” rating restated by equities research analysts at B. Riley in a note issued to investors on Monday. They presently have a $47.00 target price on the semiconductor company’s stock. B. Riley’s price objective would suggest a potential downside of 5.05% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Maxim Group restated a “buy” rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Drexel Hamilton restated a “buy” rating and issued a $52.00 price objective on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Finally, Loop Capital restated a “buy” rating and issued a $53.00 price objective on shares of Maxim Integrated Products in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.29.

Maxim Integrated Products (NASDAQ MXIM) traded up 0.30% on Monday, hitting $49.50. 860,534 shares of the company were exchanged. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 25.00 and a beta of 1.05. Maxim Integrated Products has a one year low of $37.32 and a one year high of $49.70. The stock has a 50 day moving average price of $47.22 and a 200 day moving average price of $46.08.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 $602.00 million for the quarter, compared to analyst estimates of $609.52 million. During the same period in the prior year, the business posted $0.49 earnings per share. Maxim Integrated Products’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Maxim Integrated Products will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products announced that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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In related news, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $45.28, for a total value of $1,132,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Ann Wright sold 560 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Insiders have sold 136,443 shares of company stock valued at $6,266,251 in the last three months. 1.11% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its position in 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 valued at $106,000 after purchasing an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 343 shares during the last quarter. Highstreet Asset Management Inc. acquired a new stake in Maxim Integrated Products in the second quarter valued at $115,000. Acrospire Investment Management LLC lifted its stake in Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake in Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 500 shares during the last quarter. 89.49% of the stock is 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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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