Susquehanna Begins Coverage on Maxim Integrated Products Inc. (MXIM)
Several other analysts have also commented on MXIM. Goldman Sachs Group Inc. started coverage on shares of Maxim Integrated Products in a research report on Thursday, June 2nd. They issued a neutral rating and a $35.00 price objective on the stock. Zacks Investment Research lowered shares of Maxim Integrated Products from a hold rating to a sell rating in a research report on Thursday, June 23rd. Bank of America Corp. lowered shares of Maxim Integrated Products from a buy rating to a neutral rating and lowered their price target for the company from $41.00 to $39.00 in a research report on Monday, June 27th. Royal Bank Of Canada lowered their price target on shares of Maxim Integrated Products from $42.00 to $40.00 and set an outperform rating on the stock in a research report on Friday, July 1st. Finally, Maxim Group reissued an outperform rating and issued a $40.00 price target (down previously from $42.00) on shares of Maxim Integrated Products in a research report on Saturday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $40.14.
Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at 39.25 on Tuesday. Maxim Integrated Products has a 52-week low of $30.28 and a 52-week high of $42.37. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 49.68 and a beta of 1.02. The company’s 50 day moving average is $40.15 and its 200 day moving average is $37.61.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $566 million for the quarter, compared to analyst estimates of $575.46 million. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. Analysts anticipate that Maxim Integrated Products will post $1.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a dividend of $0.33 per share. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 3.36%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 169.23%.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.86, for a total transaction of $919,350.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $41.43, for a total transaction of $1,035,750.00. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Maxim Integrated Products by 4.5% in the second quarter. Vanguard Group Inc. now owns 24,392,190 shares of the company’s stock worth $870,558,000 after buying an additional 1,054,328 shares during the last quarter. FMR LLC boosted its stake in Maxim Integrated Products by 0.3% in the second quarter. FMR LLC now owns 21,422,164 shares of the company’s stock worth $764,557,000 after buying an additional 71,389 shares during the last quarter. American Century Companies Inc. boosted its stake in Maxim Integrated Products by 18.1% in the second quarter. American Century Companies Inc. now owns 9,717,183 shares of the company’s stock worth $346,806,000 after buying an additional 1,486,323 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Maxim Integrated Products by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,587,243 shares of the company’s stock worth $315,838,000 after buying an additional 1,244,517 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Maxim Integrated Products by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 8,284,543 shares of the company’s stock worth $294,834,000 after buying an additional 230,631 shares during the last quarter. Institutional investors own 90.28% 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’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.
Receive News & Ratings for Maxim Integrated Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.