Maxim Integrated Products (NASDAQ:MXIM) Receives Hold Rating from Maxim Group

Maxim Integrated Products (NASDAQ:MXIM)‘s stock had its “hold” rating reaffirmed by Maxim Group in a research note issued on Friday, July 27th, The Fly reports.

The analysts wrote, “MXIM reported beat/raise results Thursday. F4Q (June) sales/EPS of $633M/$0.80 topped consensus’ $630M/$0.70E. F1Q (Sept.) outlook for $635M/$0.83 also bested Street’s $626M/$0.69E led by auto/industrial (52% of sales combined). GM widened 80bps to 68%. Core auto and industrial both grew double digits (%) Y/ Y. Normal seasonality should temper Q/Q growth in F1Q, though both auto/industrial should be up a solid DD (%) Y/Y. Mgmt indicated order patterns remain solid despite rising geopolitical/trade war concerns. Mgmt increased the dividend 10%; FCF yield now stands at 5.6%. Though executing well, we see risk/reward balanced here and remain sidelined for now.””

A number of other analysts have also weighed in on the company. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Loop Capital assumed coverage on Maxim Integrated Products in a report on Friday, June 22nd. They set a “buy” rating and a $70.00 target price for the company. Citigroup decreased their target price on Maxim Integrated Products from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 30th. Finally, ValuEngine upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Twelve research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.61.

MXIM traded down $1.68 during midday trading on Friday, hitting $61.38. The stock had a trading volume of 1,413,477 shares, compared to its average volume of 2,027,312. The firm has a market cap of $17.64 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.16 and a quick ratio of 3.82. Maxim Integrated Products has a 1 year low of $43.42 and a 1 year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $633.10 million during the quarter, compared to analyst estimates of $630.39 million. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. equities analysts anticipate that Maxim Integrated Products will post 3.11 earnings per share for the current year.

In other news, VP Christopher J. Neil sold 9,820 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $58.41, for a total transaction of $573,586.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Ann Wright sold 440 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $57.51, for a total value of $25,304.40. The disclosure for this sale can be found here. Insiders have sold 47,755 shares of company stock valued at $2,920,529 over the last 90 days. Corporate insiders own 1.11% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Maxim Integrated Products by 0.9% during the second quarter. BlackRock Inc. now owns 23,087,467 shares of the semiconductor company’s stock valued at $1,354,313,000 after buying an additional 217,053 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Maxim Integrated Products by 0.4% during the second quarter. American Century Companies Inc. now owns 12,403,852 shares of the semiconductor company’s stock valued at $727,610,000 after buying an additional 47,691 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Maxim Integrated Products by 1.7% during the first quarter. Wells Fargo & Company MN now owns 6,884,714 shares of the semiconductor company’s stock valued at $414,597,000 after buying an additional 118,293 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Maxim Integrated Products by 1.6% during the first quarter. Artisan Partners Limited Partnership now owns 2,966,377 shares of the semiconductor company’s stock valued at $178,635,000 after buying an additional 46,108 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Maxim Integrated Products by 25.4% during the second quarter. First Trust Advisors LP now owns 2,088,408 shares of the semiconductor company’s stock valued at $122,506,000 after buying an additional 422,378 shares during the last quarter. 91.21% of the stock is currently owned by 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, 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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