Maxim Integrated Products’ (MXIM) “Buy” Rating Reiterated at Drexel Hamilton

Maxim Integrated Products Inc. (NASDAQ:MXIM)‘s stock had its “buy” rating reiterated by Drexel Hamilton in a research report issued to clients and investors on Friday, April 14th. They presently have a $52.00 target price on the semiconductor company’s stock, up from their previous target price of $46.00. Drexel Hamilton’s price target points to a potential upside of 11.97% from the company’s previous close.

A number of other research firms also recently commented on MXIM. MKM Partners started coverage on shares of Maxim Integrated Products in a research report on Friday, April 7th. They issued a “neutral” rating and a $48.00 target price for the company. Macquarie began coverage on shares of Maxim Integrated Products in a report on Friday, March 31st. They issued an “outperform” rating and a $52.00 target price for the company. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. B. Riley restated a “neutral” rating and set a $40.00 target price on shares of Maxim Integrated Products in a research report on Thursday, February 16th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price objective (up from $45.00) on shares of Maxim Integrated Products in a research report on Tuesday, January 31st. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Maxim Integrated Products currently has an average rating of “Buy” and an average price target of $46.32.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

Maxim Integrated Products (NASDAQ:MXIM) traded up 0.86% on Friday, hitting $46.85. The company had a trading volume of 2,440,584 shares. The stock’s 50-day moving average price is $45.07 and its 200 day moving average price is $42.69. The company has a market capitalization of $13.24 billion, a P/E ratio of 26.93 and a beta of 1.14. Maxim Integrated Products has a one year low of $33.38 and a one year high of $47.15.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Maxim Integrated Products had a net margin of 22.39% and a return on equity of 24.82%. The company had revenue of $581 million during the quarter, compared to analyst estimates of $575.83 million. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that Maxim Integrated Products will post $2.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. Maxim Integrated Products’s payout ratio is 76.30%.

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In other news, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $46.33, for a total transaction of $1,158,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bryan Preeshl sold 1,243 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $44.92, for a total transaction of $55,835.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,505 shares of company stock worth $8,916,072. 1.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of MXIM. M&T Bank Corp boosted its position in shares of Maxim Integrated Products by 2.3% in the third quarter. M&T Bank Corp now owns 891,569 shares of the semiconductor company’s stock worth $35,600,000 after buying an additional 19,829 shares in the last quarter. Miles Capital Inc. boosted its position in shares of Maxim Integrated Products by 6.1% in the fourth quarter. Miles Capital Inc. now owns 25,271 shares of the semiconductor company’s stock worth $975,000 after buying an additional 1,448 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Maxim Integrated Products by 1.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 599,486 shares of the semiconductor company’s stock worth $23,937,000 after buying an additional 6,426 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Maxim Integrated Products by 0.8% in the third quarter. California State Teachers Retirement System now owns 603,583 shares of the semiconductor company’s stock worth $24,101,000 after buying an additional 5,000 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its position in shares of Maxim Integrated Products by 2.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 31,241 shares of the semiconductor company’s stock worth $1,205,000 after buying an additional 600 shares in the last quarter. 90.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:MXIM

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