Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) have received an average rating of “Hold” from the twenty-one brokerages that are currently covering the company, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $62.38.
MXIM has been the topic of a number of research reports. Citigroup dropped their price target on Maxim Integrated Products from $59.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, April 30th. Maxim Group reissued a “hold” rating on shares of Maxim Integrated Products in a research note on Thursday, June 14th. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Monday, April 30th. Loop Capital started coverage on Maxim Integrated Products in a research note on Friday, June 22nd. They issued a “buy” rating and a $70.00 price objective for the company. Finally, KeyCorp increased their price objective on Maxim Integrated Products from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th.
In other news, insider Bryan Preeshl sold 1,199 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $60.63, for a total value of $72,695.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $63.00, for a total value of $1,575,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,084 shares of company stock valued at $2,978,224. 1.11% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Maxim Integrated Products by 7.2% during the first quarter. BlackRock Inc. now owns 22,870,414 shares of the semiconductor company’s stock valued at $1,377,257,000 after purchasing an additional 1,529,058 shares during the period. Robecosam AG bought a new position in Maxim Integrated Products during the first quarter valued at $62,629,000. Eagle Asset Management Inc. grew its holdings in Maxim Integrated Products by 1,145.4% during the first quarter. Eagle Asset Management Inc. now owns 707,242 shares of the semiconductor company’s stock valued at $42,590,000 after purchasing an additional 650,454 shares during the period. Voya Investment Management LLC grew its holdings in Maxim Integrated Products by 279.5% during the second quarter. Voya Investment Management LLC now owns 707,834 shares of the semiconductor company’s stock valued at $41,521,000 after purchasing an additional 521,306 shares during the period. Finally, Ardevora Asset Management LLP grew its holdings in Maxim Integrated Products by 804.5% during the second quarter. Ardevora Asset Management LLP now owns 580,078 shares of the semiconductor company’s stock valued at $34,027,000 after purchasing an additional 515,948 shares during the period. 89.07% of the stock is owned by institutional investors.
MXIM stock opened at $60.54 on Friday. Maxim Integrated Products has a fifty-two week low of $43.42 and a fifty-two week high of $74.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.82 and a current ratio of 4.16. The company has a market cap of $16.78 billion, a P/E ratio of 22.14, a PEG ratio of 1.87 and a beta of 1.20.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The business had revenue of $633.10 million for the quarter, compared to the consensus estimate of $630.39 million. During the same period in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. equities research analysts forecast that Maxim Integrated Products will post 3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, August 29th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 3.04%. Maxim Integrated Products’s dividend payout ratio is currently 61.99%.
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, 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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