Maxim Integrated Products, Inc. (MXIM) Receives Consensus Rating of “Buy” from Brokerages

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) have been given a consensus recommendation of “Buy” by the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $47.24.

Several equities research analysts have recently weighed in on MXIM shares. Loop Capital reissued a “buy” rating and issued a $51.00 target price (up previously from $50.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 target price (up previously from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up previously from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Drexel Hamilton reissued a “buy” rating and issued a $52.00 target price (up previously from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Finally, Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, March 28th.

Shares of Maxim Integrated Products (NASDAQ MXIM) traded up 0.52% during midday trading on Monday, reaching $46.49. 2,652,142 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $46.76 and its 200-day moving average is $43.85. Maxim Integrated Products has a 12-month low of $33.38 and a 12-month high of $49.70. The stock has a market cap of $13.14 billion, a PE ratio of 26.72 and a beta of 1.02.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.84%. The ex-dividend date was Tuesday, May 30th. Maxim Integrated Products’s payout ratio is 75.86%.

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In other Maxim Integrated Products news, VP Christopher J. Neil sold 51,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $44.24, for a total transaction of $2,256,240.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tunc Doluca sold 24,500 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $44.59, for a total transaction of $1,092,455.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,548 shares of company stock worth $11,544,456. 1.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Miles Capital Inc. boosted its position in shares of Maxim Integrated Products by 6.1% in the fourth quarter. Miles Capital Inc. now owns 25,271 shares of the semiconductor company’s stock valued at $975,000 after buying an additional 1,448 shares during the last quarter. Korea Investment CORP boosted its stake in Maxim Integrated Products by 115,956.1% in the first quarter. Korea Investment CORP now owns 388,788 shares of the semiconductor company’s stock worth $17,480,000 after buying an additional 388,453 shares in the last quarter. Searle & CO. purchased a new stake in Maxim Integrated Products during the fourth quarter worth $717,000. Highbridge Capital Management LLC purchased a new stake in Maxim Integrated Products during the fourth quarter worth $1,656,000. Finally, Affinity Wealth Management purchased a new stake in Maxim Integrated Products during the first quarter worth $267,000. Institutional investors 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.

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