Maxim Integrated Products Inc. (MXIM) Earns Positive Rating from Analysts at Maxim Group
Maxim Group assumed coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a research report report published on Tuesday morning. The firm issued a positive rating and a $50.00 price target on the stock.
Several other brokerages have also issued reports on MXIM. Royal Bank Of Canada decreased their price target on shares of Maxim Integrated Products from $42.00 to $40.00 and set an outperform rating for the company in a report on Friday, July 1st. B. Riley reissued a neutral rating and issued a $40.00 price target on shares of Maxim Integrated Products in a report on Monday, July 25th. Barclays PLC boosted their price target on shares of Maxim Integrated Products from $33.00 to $35.00 and gave the company an equal weight rating in a report on Wednesday, July 20th. BMO Capital Markets lowered shares of Maxim Integrated Products from an outperform rating to a market perform rating and set a $39.00 price target for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Drexel Hamilton reissued a buy rating and issued a $42.00 price target on shares of Maxim Integrated Products in a report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Maxim Integrated Products has a consensus rating of Hold and an average price target of $40.14.
Maxim Integrated Products (NASDAQ:MXIM) opened at 39.25 on Tuesday. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 49.68 and a beta of 1.02. The firm’s 50-day moving average price is $40.15 and its 200 day moving average price is $37.61. Maxim Integrated Products has a 12-month low of $30.28 and a 12-month high of $42.37.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 21st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. The firm earned $566 million during the quarter, compared to analyst estimates of $575.46 million. On average, equities research analysts expect that Maxim Integrated Products will post $1.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Tuesday, August 16th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.30. Maxim Integrated Products’s dividend payout ratio is presently 169.23%.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 10,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $35.53, for a total transaction of $355,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William D. Watkins sold 60,786 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $41.08, for a total transaction of $2,497,088.88. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Global X Management Co. LLC raised its stake in Maxim Integrated Products by 87.8% in the second quarter. Global X Management Co. LLC now owns 2,824 shares of the company’s stock valued at $101,000 after buying an additional 1,320 shares in the last quarter. IFP Advisors Inc raised its stake in Maxim Integrated Products by 31.3% in the second quarter. IFP Advisors Inc now owns 2,874 shares of the company’s stock valued at $103,000 after buying an additional 685 shares in the last quarter. Advisor Group Inc. purchased a new stake in Maxim Integrated Products during the second quarter valued at about $110,000. Tower Research Capital LLC TRC raised its stake in Maxim Integrated Products by 432.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,897 shares of the company’s stock valued at $139,000 after buying an additional 3,165 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in Maxim Integrated Products by 125.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,233 shares of the company’s stock valued at $151,000 after buying an additional 2,354 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.
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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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