Maxim Integrated Products, Inc. (NASDAQ:MXIM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Maxim is an OEM of analog and mixed signal ICs. The company's first-quarter earnings surpass the Zacks Consensus Estimate on the back of solid performances by industrial and automotive segments. On a year to date basis, the stock has outperformed the industry to which it belongs to. Maxim has a solid portfolio that generates steady design wins, a highly profitable and well-diversified core business, a policy of maintaining efficiency that has led to cost cutting measures and regular cash returns.  Maxim’s exposure to the consumer and communications markets increases risks. However, the diversification of the consumer revenue across a variety of tablets, wearables, peripherals and smartphones is adding stability to the company’s business profile.”

MXIM has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. BMO Capital Markets lifted their target price on shares of Maxim Integrated Products from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. B. Riley restated a “hold” rating and set a $47.00 target price on shares of Maxim Integrated Products in a research note on Monday, October 16th. Barclays PLC lifted their target price on shares of 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. Finally, Loop Capital restated a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $52.14.

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down $0.27 during trading on Monday, hitting $53.54. 2,038,900 shares of the stock traded hands, compared to its average volume of 2,091,760. The stock has a market cap of $15,070.79, a PE ratio of 23.80, a PEG ratio of 2.11 and a beta of 1.11. Maxim Integrated Products has a 1-year low of $37.32 and a 1-year high of $55.43. The company has a quick ratio of 13.09, a current ratio of 14.14 and a debt-to-equity ratio of 0.68.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company had revenue of $576.00 million for the quarter, compared to analysts’ expectations of $576.80 million. During the same quarter in the previous year, the company earned $0.48 EPS. Maxim Integrated Products’s revenue for the quarter was up 2.6% on a year-over-year basis. equities research analysts expect that Maxim Integrated Products will post 2.48 EPS for the current fiscal year.

Maxim Integrated Products announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Downgrades Maxim Integrated Products, Inc. (MXIM) to Hold” was first posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/11/13/zacks-investment-research-downgrades-maxim-integrated-products-inc-mxim-to-hold.html.

In other Maxim Integrated Products news, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $51.71, for a total transaction of $1,292,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Ann Wright sold 560 shares of the company’s 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. Insiders sold a total of 252,447 shares of company stock valued at $12,650,714 in the last ninety days. Corporate insiders own 1.11% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MXIM. Fiera Capital Corp grew its position in Maxim Integrated Products by 0.7% during the second quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock valued at $700,000 after buying an additional 107 shares during the period. Gateway Investment Advisers LLC grew its position in Maxim Integrated Products by 2.1% during the second quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock valued at $398,000 after buying an additional 181 shares during the period. Ropes Wealth Advisors LLC grew its position in Maxim Integrated Products by 5.8% during the second quarter. Ropes Wealth Advisors LLC now owns 4,248 shares of the semiconductor company’s stock valued at $191,000 after buying an additional 234 shares during the period. Xact Kapitalforvaltning AB grew its position in Maxim Integrated Products by 1.0% during the second quarter. Xact Kapitalforvaltning AB now owns 30,734 shares of the semiconductor company’s stock valued at $1,380,000 after buying an additional 315 shares during the period. Finally, Capstone Asset Management Co. grew its position in Maxim Integrated Products by 4.9% during the second quarter. Capstone Asset Management Co. now owns 7,255 shares of the semiconductor company’s stock valued at $326,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 90.94% 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)

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.