Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price target raised by analysts at Stifel Nicolaus from $54.00 to $57.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 9.43% from the company’s previous close.

Several other research firms also recently issued reports on MXIM. Maxim Group lifted their price target on Maxim Integrated Products to $60.00 and gave the stock a “buy” rating in a research note on Friday. Drexel Hamilton lifted their price target on Maxim Integrated Products from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Barclays PLC lifted their price target on Maxim Integrated Products from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday. B. Riley reaffirmed a “hold” rating and set a $47.00 price target on shares of Maxim Integrated Products in a research note on Monday, October 16th. Finally, Morgan Stanley lifted their price target on Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $51.55.

Maxim Integrated Products (MXIM) traded up 3.99% during midday trading on Friday, hitting $52.09. 4,541,274 shares of the stock were exchanged. Maxim Integrated Products has a one year low of $37.32 and a one year high of $53.10. The stock has a market cap of $14.69 billion, a P/E ratio of 26.31 and a beta of 1.05. The firm has a 50-day moving average price of $47.85 and a 200-day moving average price of $46.26.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million during the quarter, compared to the consensus estimate of $576.80 million. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. On average, equities research analysts anticipate that Maxim Integrated Products will post $2.35 EPS for the current fiscal year.

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

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In other news, Director Mary Ann Wright sold 560 shares of Maxim Integrated Products stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher J. Neil sold 3,500 shares of Maxim Integrated Products stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.67, for a total value of $159,845.00. The disclosure for this sale can be found here. Insiders sold a total of 136,443 shares of company stock worth $6,266,251 over the last ninety days. Corporate insiders own 1.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Maxim Integrated Products by 13.4% in the 2nd quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after purchasing an additional 2,358,743 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Maxim Integrated Products by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,593,454 shares of the semiconductor company’s stock valued at $475,645,000 after purchasing an additional 167,748 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Maxim Integrated Products by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 6,521,747 shares of the semiconductor company’s stock valued at $292,827,000 after purchasing an additional 63,877 shares in the last quarter. State Street Corp lifted its stake in shares of Maxim Integrated Products by 0.5% in the 2nd quarter. State Street Corp now owns 6,384,084 shares of the semiconductor company’s stock valued at $286,644,000 after purchasing an additional 28,762 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Maxim Integrated Products by 29.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,770,400 shares of the semiconductor company’s stock valued at $169,291,000 after purchasing an additional 866,278 shares in the last quarter. 89.49% of the stock is currently owned by institutional investors and hedge funds.

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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