Maxim Integrated Products (MXIM) Downgraded by BidaskClub

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

A number of other analysts have also recently issued reports on MXIM. ValuEngine cut Maxim Integrated Products from a buy rating to a hold rating in a research report on Friday, May 10th. Zacks Investment Research raised Maxim Integrated Products from a sell rating to a hold rating in a research report on Tuesday, April 2nd. MKM Partners raised their price objective on Maxim Integrated Products to $62.00 and gave the company a neutral rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed a sector perform rating and issued a $64.00 price objective on shares of Maxim Integrated Products in a research report on Tuesday, April 30th. Finally, Deutsche Bank lifted their price target on Maxim Integrated Products from $60.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $61.83.

MXIM opened at $53.59 on Wednesday. Maxim Integrated Products has a 12-month low of $46.64 and a 12-month high of $63.68. The company has a market capitalization of $14.65 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a quick ratio of 5.77, a current ratio of 6.46 and a debt-to-equity ratio of 0.60.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The company had revenue of $542.38 million during the quarter, compared to analysts’ expectations of $540.17 million. During the same period last year, the firm posted $0.73 earnings per share. The business’s revenue was down 16.4% on a year-over-year basis. As a group, equities research analysts anticipate that Maxim Integrated Products will post 2.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Wednesday, May 29th. This represents a $1.84 annualized dividend and a yield of 3.43%. Maxim Integrated Products’s payout ratio is currently 67.90%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $54.96, for a total transaction of $137,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Vivek Jain sold 14,246 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $60.58, for a total value of $863,022.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,352 shares of company stock valued at $4,172,270. 0.85% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of MXIM. American International Group Inc. increased its stake in Maxim Integrated Products by 27,390.1% during the 4th quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after acquiring an additional 7,610,336 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Maxim Integrated Products by 8,495.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,356,863 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 3,317,811 shares during the period. Norges Bank bought a new position in Maxim Integrated Products during the 4th quarter worth $142,906,000. Northern Trust Corp increased its stake in Maxim Integrated Products by 51.0% during the 4th quarter. Northern Trust Corp now owns 3,706,020 shares of the semiconductor company’s stock worth $188,452,000 after acquiring an additional 1,252,400 shares during the period. Finally, Geode Capital Management LLC increased its stake in Maxim Integrated Products by 37.6% during the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after acquiring an additional 1,160,574 shares during the period. Hedge funds and other institutional investors own 98.20% of the company’s stock.

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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