Maxim Integrated Products (NASDAQ:MXIM) Earns Hold Rating from Analysts at Benchmark

Benchmark assumed coverage on shares of Maxim Integrated Products (NASDAQ:MXIM) in a research report released on Thursday, BenzingaRatingsTable reports. The brokerage issued a hold rating on the semiconductor company’s stock.

MXIM has been the subject of several other research reports. Bank of America reaffirmed a neutral rating and set a $67.00 price target (up previously from $60.00) on shares of Maxim Integrated Products in a research note on Wednesday, May 1st. Cowen reaffirmed a market perform rating and set a $57.00 price target (down previously from $63.00) on shares of Maxim Integrated Products in a research note on Wednesday. Maxim Group reaffirmed a buy rating and set a $70.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, May 1st. BidaskClub raised Maxim Integrated Products from a buy rating to a strong-buy rating in a research note on Friday, July 26th. Finally, MKM Partners lifted their price target on Maxim Integrated Products to $62.00 and gave the stock a neutral rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Maxim Integrated Products has an average rating of Hold and a consensus target price of $61.75.

NASDAQ:MXIM traded down $1.11 during trading hours on Thursday, hitting $55.90. 2,505,022 shares of the company’s stock traded hands, compared to its average volume of 1,476,800. The company has a current ratio of 6.84, a quick ratio of 5.77 and a debt-to-equity ratio of 0.54. The company has a fifty day moving average of $60.56. Maxim Integrated Products has a 52 week low of $46.64 and a 52 week high of $65.73. The company has a market cap of $15.59 billion, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.87 and a beta of 1.38.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. The firm had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.97 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Maxim Integrated Products will post 2.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 3.43%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.46. Maxim Integrated Products’s payout ratio is currently 75.72%.

In other news, VP Bruce E. Kiddoo sold 5,000 shares of Maxim Integrated Products stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $58.52, for a total value of $292,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tunc Doluca sold 2,500 shares of Maxim Integrated Products stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $54.00, for a total value of $135,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $1,118,220. Company insiders own 0.85% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its holdings in Maxim Integrated Products by 0.5% during the 1st quarter. OppenheimerFunds Inc. now owns 7,859,316 shares of the semiconductor company’s stock valued at $417,880,000 after purchasing an additional 37,688 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $215,856,000 after purchasing an additional 1,160,574 shares during the period. Northern Trust Corp increased its holdings in Maxim Integrated Products by 1.6% during the 1st quarter. Northern Trust Corp now owns 3,765,614 shares of the semiconductor company’s stock valued at $200,218,000 after purchasing an additional 59,594 shares during the period. FIL Ltd increased its holdings in Maxim Integrated Products by 29.8% during the 1st quarter. FIL Ltd now owns 3,507,107 shares of the semiconductor company’s stock valued at $186,472,000 after purchasing an additional 804,734 shares during the period. Finally, First Trust Advisors LP increased its holdings in Maxim Integrated Products by 36.9% during the 1st quarter. First Trust Advisors LP now owns 1,718,292 shares of the semiconductor company’s stock valued at $91,362,000 after purchasing an additional 462,950 shares during the period. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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.

Read More: How is diluted EPS different from basic EPS?

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.