Maxim Integrated Products (NASDAQ:MXIM) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a sell rating to a hold rating in a research report released on Wednesday, BidAskClub reports.

MXIM has been the subject of a number of other reports. Stifel Nicolaus set a $61.00 price objective on shares of Maxim Integrated Products and gave the company a buy rating in a research note on Wednesday, July 31st. Benchmark assumed coverage on shares of Maxim Integrated Products in a research note on Thursday, August 1st. They set a hold rating for the company. ValuEngine upgraded shares of Maxim Integrated Products from a hold rating to a buy rating in a research note on Thursday, June 27th. Royal Bank of Canada restated a sector perform rating and set a $64.00 price objective on shares of Maxim Integrated Products in a research note on Tuesday, April 30th. Finally, Barclays raised their price objective on shares of Maxim Integrated Products from $58.00 to $60.00 and gave the company an equal weight rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $61.75.

NASDAQ:MXIM opened at $52.15 on Wednesday. The firm has a market cap of $14.81 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.18 and a current ratio of 6.84. Maxim Integrated Products has a fifty-two week low of $46.64 and a fifty-two week high of $65.73. The firm has a 50-day simple moving average of $58.67 and a two-hundred day simple moving average of $56.80.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.97 million. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. Maxim Integrated Products’s revenue was down 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. On average, equities research analysts predict that Maxim Integrated Products will post 2.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, August 28th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.46. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 75.72%.

In other news, VP Vivek Jain sold 12,683 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $54.92, for a total transaction of $696,550.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Bruce E. Kiddoo sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $58.52, for a total transaction of $292,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,358 shares of company stock worth $3,007,470. Insiders own 0.85% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MXIM. Geode Capital Management LLC raised its position in Maxim Integrated Products by 37.6% in the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after purchasing an additional 1,160,574 shares during the last quarter. Strs Ohio raised its position in Maxim Integrated Products by 4.1% in the 1st quarter. Strs Ohio now owns 44,458 shares of the semiconductor company’s stock worth $2,363,000 after purchasing an additional 1,744 shares during the last quarter. CWM LLC raised its position in Maxim Integrated Products by 38.5% in the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 230 shares during the last quarter. Investors Research Corp bought a new position in Maxim Integrated Products in the 1st quarter worth approximately $142,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Maxim Integrated Products in the 1st quarter worth approximately $319,000. 93.07% of the stock is currently owned by hedge funds and other institutional investors.

Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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