Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price objective boosted by Barclays PLC from $46.00 to $50.00 in a research note released on Wednesday morning. The brokerage currently has an equal weight rating on the semiconductor company’s stock.
MXIM has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a buy rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. BidaskClub raised Maxim Integrated Products from a hold rating to a buy rating in a research note on Wednesday, July 12th. B. Riley reaffirmed a hold rating and issued a $47.00 price objective on shares of Maxim Integrated Products in a research note on Monday, October 16th. Loop Capital reaffirmed a buy rating and issued a $53.00 price objective on shares of Maxim Integrated Products in a research note on Thursday, August 31st. Finally, Maxim Group reaffirmed a buy rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $51.55.
Maxim Integrated Products (MXIM) traded up 3.99% during trading on Wednesday, hitting $52.09. The stock had a trading volume of 4,541,274 shares. Maxim Integrated Products has a one year low of $37.32 and a one year high of $53.10. The company has a market cap of $14.68 billion, a P/E ratio of 25.53 and a beta of 1.05. The firm has a 50 day moving average of $47.85 and a 200-day moving average of $46.26.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The business had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Maxim Integrated Products will post $2.35 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio is currently 70.24%.
Maxim Integrated Products declared that its board has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
In other news, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.67, for a total transaction of $159,845.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $45.28, for a total value of $1,132,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,443 shares of company stock valued at $6,266,251. Insiders own 1.11% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MXIM. Prudential Financial Inc. boosted its position in shares of Maxim Integrated Products by 98.5% during the 1st quarter. Prudential Financial Inc. now owns 49,535 shares of the semiconductor company’s stock worth $2,227,000 after acquiring an additional 24,578 shares in the last quarter. AXA lifted its holdings in shares of Maxim Integrated Products by 14.0% in the 1st quarter. AXA now owns 7,183 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 883 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Maxim Integrated Products by 10.5% in the 1st quarter. Principal Financial Group Inc. now owns 383,413 shares of the semiconductor company’s stock valued at $17,238,000 after purchasing an additional 36,347 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Maxim Integrated Products by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 456,226 shares of the semiconductor company’s stock valued at $20,512,000 after purchasing an additional 12,915 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Maxim Integrated Products by 17.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 6,114 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 909 shares during the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.
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 caters to automotive, communications and data center, computing, consumer and industrial markets.
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