Morgan Stanley reiterated their underweight rating on shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in a research report released on Wednesday morning. Morgan Stanley currently has a $40.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. B. Riley reaffirmed a neutral rating and issued a $47.00 target price on shares of Maxim Integrated Products in a report on Tuesday, September 12th. Maxim Group reaffirmed a buy rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Drexel Hamilton reissued a buy rating and set a $52.00 price target on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Loop Capital reissued a buy rating and set a $53.00 price target on shares of Maxim Integrated Products in a report on Thursday, August 31st. Finally, BidaskClub cut shares of Maxim Integrated Products from a buy rating to a hold rating in a report on Monday, July 24th. One research 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. The company presently has a consensus rating of Hold and an average price target of $47.80.

Maxim Integrated Products (NASDAQ:MXIM) traded down 0.19% during trading on Wednesday, hitting $46.35. The company’s stock had a trading volume of 630,453 shares. Maxim Integrated Products has a one year low of $37.25 and a one year high of $49.70. The firm has a market cap of $13.07 billion, a PE ratio of 23.41 and a beta of 1.04. The company has a 50-day moving average of $45.58 and a 200 day moving average of $45.73.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the prior year, the company earned $0.49 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Maxim Integrated Products will post $2.34 earnings per share for the current year.

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Maxim Integrated Products declared that its Board of Directors has initiated a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.10%. Maxim Integrated Products’s dividend payout ratio (DPR) is 72.36%.

In other news, CEO Tunc Doluca sold 12,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $44.72, for a total value of $536,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Ann Wright sold 560 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,443 shares of company stock valued at $6,077,906. 1.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Maxim Integrated Products by 483.2% in the second quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock valued at $100,403,000 after purchasing an additional 1,852,730 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of Maxim Integrated Products by 1,536.5% in the second quarter. Federated Investors Inc. PA now owns 327,522 shares of the semiconductor company’s stock valued at $14,706,000 after purchasing an additional 307,509 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Maxim Integrated Products by 9.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 190,924 shares of the semiconductor company’s stock valued at $8,572,000 after purchasing an additional 16,744 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Maxim Integrated Products by 2.0% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $30,730,000 after purchasing an additional 13,300 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Maxim Integrated Products by 4.3% in the first quarter. Pacer Advisors Inc. now owns 8,419 shares of the semiconductor company’s stock valued at $379,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 89.38% 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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