Maxim Integrated Products, Inc. (NASDAQ:MXIM) has been assigned an average rating of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $47.21.
MXIM has been the subject of a number of analyst reports. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Loop Capital reissued a “buy” rating and issued a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. Morgan Stanley increased their price target on Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, July 17th. Finally, Maxim Group initiated coverage on Maxim Integrated Products in a research report on Friday, June 16th. They issued a “market perform” rating for the company.
In other news, Director Robert Edward Grady sold 30,849 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $45.04, for a total transaction of $1,389,438.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bryan Preeshl sold 1,234 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $45.71, for a total value of $56,406.14. The disclosure for this sale can be found here. Insiders have sold a total of 145,029 shares of company stock valued at $6,637,899 in the last quarter. 1.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MXIM. Gateway Investment Advisers LLC increased its position in Maxim Integrated Products by 2.5% in the first quarter. Gateway Investment Advisers LLC now owns 8,690 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 216 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Maxim Integrated Products during the first quarter valued at $2,002,000. Shell Asset Management Co. increased its position in Maxim Integrated Products by 0.3% in the first quarter. Shell Asset Management Co. now owns 18,656 shares of the semiconductor company’s stock valued at $839,000 after buying an additional 54 shares during the last quarter. Russell Investments Group Ltd. increased its position in Maxim Integrated Products by 28.2% in the first quarter. Russell Investments Group Ltd. now owns 102,517 shares of the semiconductor company’s stock valued at $4,612,000 after buying an additional 22,534 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in Maxim Integrated Products by 11.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,898 shares of the semiconductor company’s stock valued at $984,000 after buying an additional 2,285 shares during the last quarter. Institutional investors own 90.13% of the company’s stock.
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Maxim Integrated Products (NASDAQ MXIM) traded up 0.71% during trading on Friday, hitting $46.99. 2,115,383 shares of the company traded hands. The stock has a 50-day moving average price of $45.38 and a 200-day moving average price of $45.57. The firm has a market capitalization of $13.25 billion, a P/E ratio of 23.73 and a beta of 1.04. Maxim Integrated Products has a 12-month low of $37.25 and a 12-month high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company had revenue of $602 million for the quarter, compared to analyst estimates of $609.52 million. During the same period in the prior year, the firm earned $0.49 earnings per share. Maxim Integrated Products’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that Maxim Integrated Products will post $2.34 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 72.36%.
Maxim Integrated Products declared that its board has authorized a stock repurchase program on Thursday, July 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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