BidaskClub Upgrades Maxim Integrated Products (NASDAQ:MXIM) to Buy

BidaskClub upgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a hold rating to a buy rating in a research report report published on Wednesday, BidAskClub reports.

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Several other analysts have also recently issued reports on MXIM. Citigroup set a $62.00 price objective on shares of Maxim Integrated Products and gave the company a hold rating in a research note on Wednesday, July 31st. ValuEngine cut shares of Maxim Integrated Products from a buy rating to a hold rating in a research note on Monday, October 7th. Deutsche Bank upped their price objective on shares of Maxim Integrated Products from $65.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, October 30th. Benchmark assumed coverage on shares of Maxim Integrated Products in a research note on Thursday, August 1st. They set a hold rating for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Maxim Integrated Products from $61.00 to $56.00 in a research note on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Maxim Integrated Products presently has an average rating of Hold and a consensus price target of $62.08.

NASDAQ MXIM traded down $0.05 on Wednesday, reaching $59.55. 1,366,100 shares of the company’s stock traded hands, compared to its average volume of 1,816,003. Maxim Integrated Products has a fifty-two week low of $46.64 and a fifty-two week high of $65.73. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.34 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.39 and a current ratio of 7.08. The stock has a 50 day moving average price of $57.97 and a 200-day moving average price of $57.52.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Maxim Integrated Products had a net margin of 34.87% and a return on equity of 34.55%. The company had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $530.99 million. During the same quarter in the prior year, the company earned $0.75 EPS. Maxim Integrated Products’s revenue was down 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Maxim Integrated Products will post 2.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Maxim Integrated Products’s dividend payout ratio (DPR) is 79.01%.

In other news, Director William D. Watkins sold 8,310 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $54.62, for a total value of $453,892.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Bergman sold 1,400 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $57.45, for a total transaction of $80,430.00. The disclosure for this sale can be found here. In the last three months, insiders sold 123,468 shares of company stock valued at $7,146,585. Corporate insiders own 0.84% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Maxim Integrated Products by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 31,068,831 shares of the semiconductor company’s stock valued at $1,858,537,000 after buying an additional 198,012 shares during the period. BlackRock Inc. lifted its holdings in shares of Maxim Integrated Products by 1.1% in the 2nd quarter. BlackRock Inc. now owns 20,800,621 shares of the semiconductor company’s stock worth $1,244,296,000 after acquiring an additional 227,322 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Maxim Integrated Products by 183.1% in the 2nd quarter. Invesco Ltd. now owns 12,048,685 shares of the semiconductor company’s stock worth $720,753,000 after acquiring an additional 7,793,251 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Maxim Integrated Products by 2.8% in the 2nd quarter. Northern Trust Corp now owns 3,870,165 shares of the semiconductor company’s stock worth $231,513,000 after acquiring an additional 104,551 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Maxim Integrated Products by 1.7% in the 2nd quarter. Bank of America Corp DE now owns 2,922,608 shares of the semiconductor company’s stock worth $174,829,000 after acquiring an additional 48,962 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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