Maxim Integrated Products, Inc. (NASDAQ:MXIM) Receives $47.24 Consensus Price Target from Analysts

Maxim Integrated Products, Inc. (NASDAQ:MXIM) has received a consensus recommendation of “Buy” from the twenty-one research firms that are covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $46.75.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. BidaskClub downgraded Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Maxim Group assumed coverage on Maxim Integrated Products in a research note on Friday, June 16th. They set a “market perform” rating for the company. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 target price (up from $52.00) on shares of Maxim Integrated Products in a research note on Friday, May 26th.

Maxim Integrated Products (NASDAQ MXIM) traded up 1.78% during midday trading on Monday, reaching $45.74. 1,335,842 shares of the company’s stock were exchanged. Maxim Integrated Products has a 52 week low of $34.80 and a 52 week high of $49.70. The firm’s 50 day moving average is $46.83 and its 200 day moving average is $44.29. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 26.29 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. The business had revenue of $581 million for the quarter, compared to analyst estimates of $575.83 million. During the same quarter in the prior year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Maxim Integrated Products will post $2.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, May 30th. Maxim Integrated Products’s payout ratio is currently 75.86%.

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In other news, VP Christopher J. Neil sold 51,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $44.24, for a total transaction of $2,256,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph R. Bronson sold 18,300 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $45.08, for a total value of $824,964.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 238,048 shares of company stock valued at $10,988,641. 1.30% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Aviva PLC boosted its position in Maxim Integrated Products by 6.1% in the fourth quarter. Aviva PLC now owns 188,668 shares of the semiconductor company’s stock worth $7,279,000 after buying an additional 10,797 shares in the last quarter. Martingale Asset Management L P boosted its position in Maxim Integrated Products by 177.8% in the fourth quarter. Martingale Asset Management L P now owns 126,255 shares of the semiconductor company’s stock worth $4,871,000 after buying an additional 80,815 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Maxim Integrated Products during the fourth quarter worth $458,000. Tredje AP fonden acquired a new position in Maxim Integrated Products during the fourth quarter worth $296,000. Finally, Dimensional Fund Advisors LP boosted its position in Maxim Integrated Products by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 620,466 shares of the semiconductor company’s stock worth $23,934,000 after buying an additional 40,207 shares in the last quarter. Institutional investors and hedge funds own 89.52% 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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