BidaskClub Upgrades Maxim Integrated Products (MXIM) to Hold

Maxim Integrated Products (NASDAQ:MXIM) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms have also recently commented on MXIM. Stifel Nicolaus raised their target price on shares of Maxim Integrated Products from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. MKM Partners raised their target price on shares of Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. BMO Capital Markets raised their target price on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “strong-buy” rating and set a $70.00 target price on the stock in a research note on Monday, July 30th. Finally, Citigroup raised their target price on shares of Maxim Integrated Products from $56.00 to $61.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Maxim Integrated Products presently has an average rating of “Hold” and a consensus price target of $60.76.

NASDAQ MXIM opened at $52.76 on Friday. Maxim Integrated Products has a 12 month low of $46.85 and a 12 month high of $74.94. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.66 and a beta of 1.28. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. The company had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $635.19 million. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that Maxim Integrated Products will post 2.71 earnings per share for the current year.

In related news, VP David Loftus sold 6,623 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $60.01, for a total value of $397,446.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Bergman sold 4,400 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $53.24, for a total transaction of $234,256.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,023 shares of company stock worth $1,210,602. Company insiders own 0.85% of the company’s stock.

Several hedge funds have recently bought and sold shares of MXIM. Bank of Montreal Can grew its holdings in shares of Maxim Integrated Products by 17.2% in the second quarter. Bank of Montreal Can now owns 194,936 shares of the semiconductor company’s stock valued at $11,436,000 after purchasing an additional 28,572 shares in the last quarter. Hartford Investment Management Co. purchased a new position in shares of Maxim Integrated Products in the second quarter valued at $270,000. Creative Planning grew its holdings in shares of Maxim Integrated Products by 59.3% in the second quarter. Creative Planning now owns 11,009 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 4,098 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Maxim Integrated Products in the second quarter valued at $527,000. Finally, OLD National Bancorp IN grew its holdings in shares of Maxim Integrated Products by 4.1% in the second quarter. OLD National Bancorp IN now owns 51,481 shares of the semiconductor company’s stock valued at $3,020,000 after purchasing an additional 2,011 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About Maxim Integrated Products

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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