Maxim Integrated Products (NASDAQ:MXIM) Lifted to “Hold” at BidaskClub

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

A number of other research firms also recently commented on MXIM. Stifel Nicolaus set a $61.00 price objective on shares of Maxim Integrated Products and gave the stock a buy rating in a research note on Wednesday, July 31st. Deutsche Bank set a $70.00 price objective on shares of Maxim Integrated Products and gave the stock a buy rating in a research note on Friday, July 26th. ValuEngine upgraded shares of Maxim Integrated Products from a hold rating to a buy rating in a research note on Thursday, June 27th. Cowen restated a market perform rating and set a $57.00 price objective (down from $63.00) on shares of Maxim Integrated Products in a research note on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of Maxim Integrated Products from $58.00 to $60.00 and gave the stock an equal weight rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of Hold and an average target price of $61.75.

Shares of NASDAQ MXIM opened at $52.15 on Wednesday. The firm has a market cap of $14.81 billion, a PE ratio of 22.38, a PEG ratio of 2.11 and a beta of 1.38. The company has a current ratio of 6.84, a quick ratio of 6.18 and a debt-to-equity ratio of 0.54. Maxim Integrated Products has a 1-year low of $46.64 and a 1-year high of $65.73. The company has a fifty day moving average price of $58.67 and a 200 day moving average price of $56.80.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.97 million. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 EPS. Equities research analysts forecast that Maxim Integrated Products will post 2.21 EPS for the current year.

The company also recently announced 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.68%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 28th. Maxim Integrated Products’s dividend payout ratio is presently 75.72%.

In other news, VP Vivek Jain sold 12,683 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $54.92, for a total value of $696,550.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tunc Doluca sold 2,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $54.00, for a total transaction of $135,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,358 shares of company stock worth $3,007,470. 0.85% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Maxim Integrated Products by 328.1% in the 1st quarter. Quadrant Capital Group LLC now owns 488 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 374 shares during the period. Coastal Investment Advisors Inc. raised its holdings in shares of Maxim Integrated Products by 97.5% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 276 shares during the period. CWM LLC raised its holdings in shares of Maxim Integrated Products by 38.5% in the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 230 shares during the period. Flagship Harbor Advisors LLC raised its holdings in shares of Maxim Integrated Products by 175.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 469 shares during the period. Finally, Anderson Fisher LLC raised its holdings in shares of Maxim Integrated Products by 551.2% in the 2nd quarter. Anderson Fisher LLC now owns 788 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 667 shares during the period. 93.07% of the stock is currently owned by institutional investors.

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.

Further Reading: What are the economic characteristics of a bear market?

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.