Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price objective boosted by analysts at Morgan Stanley from $40.00 to $42.00 in a report released on Friday. The firm presently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective points to a potential downside of 16.15% from the stock’s current price.

A number of other research analysts have also recently commented on MXIM. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. B. Riley restated a “neutral” rating and set a $44.00 price target on shares of Maxim Integrated Products in a research note on Monday, July 17th. Loop Capital restated a “buy” rating and set a $43.00 price target on shares of Maxim Integrated Products in a research note on Tuesday, August 22nd. Finally, Drexel Hamilton restated a “buy” rating and set a $52.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus price target of $49.50.

Maxim Integrated Products (NASDAQ MXIM) opened at 50.09 on Friday. The firm’s 50-day moving average price is $47.70 and its 200 day moving average price is $46.20. Maxim Integrated Products has a 12-month low of $37.32 and a 12-month high of $50.23. The stock has a market capitalization of $14.13 billion, a P/E ratio of 25.30 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company had revenue of $576.00 million for the quarter, compared to analysts’ expectations of $576.80 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Maxim Integrated Products will post $2.34 EPS for the current year.

Maxim Integrated Products declared that its board has approved a stock repurchase plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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In related news, CEO Tunc Doluca sold 15,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.91, for a total value of $718,650.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Edward Grady sold 30,849 shares of the stock in a transaction on Thursday, August 24th. The shares were 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. Insiders sold 136,443 shares of company stock worth $6,266,251 in the last three months. 1.11% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Navellier & Associates Inc increased its holdings in Maxim Integrated Products by 3.3% in the second quarter. Navellier & Associates Inc now owns 41,353 shares of the semiconductor company’s stock valued at $1,857,000 after buying an additional 1,312 shares during the last quarter. WFG Advisors LP increased its holdings in Maxim Integrated Products by 201.1% in the second quarter. WFG Advisors LP now owns 3,962 shares of the semiconductor company’s stock valued at $178,000 after buying an additional 2,646 shares during the last quarter. Toronto Dominion Bank increased its holdings in Maxim Integrated Products by 12.1% in the second quarter. Toronto Dominion Bank now owns 3,474 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 375 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Maxim Integrated Products in the second quarter valued at $451,000. Finally, Koch Industries Inc. increased its holdings in Maxim Integrated Products by 17,243.5% in the second quarter. Koch Industries Inc. now owns 899,089 shares of the semiconductor company’s stock valued at $880,000 after buying an additional 893,905 shares during the last quarter. 89.49% of the stock is currently owned by hedge funds and other institutional investors.

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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