Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price target lifted by Citigroup Inc. from $44.00 to $50.00 in a research report issued on Monday. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup Inc.’s price target suggests a potential downside of 4.01% from the company’s previous close.

Several other equities analysts have also issued reports on MXIM. B. Riley reiterated a “neutral” rating and issued a $47.00 price target on shares of Maxim Integrated Products in a research note on Tuesday, September 12th. Barclays PLC lifted their price target on Maxim Integrated Products from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Wells Fargo & Company lifted their price target on Maxim Integrated Products from $44.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday. Maxim Group lifted their price target on Maxim Integrated Products to $60.00 and gave the company a “buy” rating in a research note on Friday. Finally, SunTrust Banks, Inc. lifted their price target on Maxim Integrated Products to $53.00 and gave the company a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.85.

Shares of Maxim Integrated Products (MXIM) traded down 0.04% during mid-day trading on Monday, reaching $52.07. The company’s stock had a trading volume of 427,442 shares. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 26.30 and a beta of 1.05. Maxim Integrated Products has a 52-week low of $37.32 and a 52-week high of $53.10. 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 issued its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The company had revenue of $576.00 million for the quarter, compared to analyst estimates of $576.80 million. During the same quarter last year, the company posted $0.48 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Maxim Integrated Products will post $2.35 EPS for the current fiscal year.

Maxim Integrated Products announced that its board has initiated a stock repurchase 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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In related news, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.50, for a total value of $166,250.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $45.28, for a total value of $1,132,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,443 shares of company stock worth $6,266,251. Company insiders own 1.11% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Strs Ohio raised its position in shares of Maxim Integrated Products by 6.3% in the third quarter. Strs Ohio now owns 23,104 shares of the semiconductor company’s stock worth $1,102,000 after buying an additional 1,368 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Maxim Integrated Products in the third quarter worth $445,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Maxim Integrated Products in the third quarter worth $938,000. Navellier & Associates Inc raised its position in shares of Maxim Integrated Products by 3.3% in the second quarter. Navellier & Associates Inc now owns 41,353 shares of the semiconductor company’s stock worth $1,857,000 after buying an additional 1,312 shares in the last quarter. Finally, WFG Advisors LP raised its position in shares of Maxim Integrated Products by 201.1% in the second quarter. WFG Advisors LP now owns 3,962 shares of the semiconductor company’s stock worth $178,000 after buying an additional 2,646 shares in the last quarter. Institutional investors own 89.49% of the company’s stock.

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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