Analysts Set Maxim Integrated Products, Inc. (MXIM) PT at $46.47

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $46.73.

Several equities analysts have commented on MXIM shares. Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, April 24th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 target price (up from $44.00) on shares of Maxim Integrated Products in a report on Friday, April 14th. Evercore ISI reissued an “in-line” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Drexel Hamilton reissued a “buy” rating and issued a $52.00 target price (up from $46.00) on shares of Maxim Integrated Products in a report on Friday, April 14th. Finally, BidaskClub lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

In other news, CEO Tunc Doluca sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $44.72, for a total value of $536,640.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher J. Neil sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.67, for a total transaction of $159,845.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,548 shares of company stock worth $7,870,211. 1.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MXIM. OxFORD Asset Management LLP increased its position in shares of Maxim Integrated Products by 83.5% in the second quarter. OxFORD Asset Management LLP now owns 59,193 shares of the semiconductor company’s stock worth $2,658,000 after buying an additional 26,931 shares during the period. Dimensional Fund Advisors LP increased its position in Maxim Integrated Products by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 765,566 shares of the semiconductor company’s stock worth $34,372,000 after buying an additional 48,633 shares during the last quarter. Ropes Wealth Advisors LLC increased its position in Maxim Integrated Products by 5.8% in the second quarter. Ropes Wealth Advisors LLC now owns 4,248 shares of the semiconductor company’s stock worth $191,000 after buying an additional 234 shares during the last quarter. Advisor Group Inc. increased its position in Maxim Integrated Products by 237.5% in the second quarter. Advisor Group Inc. now owns 15,204 shares of the semiconductor company’s stock worth $671,000 after buying an additional 10,699 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in Maxim Integrated Products by 5.8% in the second quarter. Cibc World Markets Corp now owns 380,000 shares of the semiconductor company’s stock worth $17,062,000 after buying an additional 21,000 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Maxim Integrated Products (NASDAQ MXIM) traded up 1.12% during trading on Friday, reaching $44.39. 1,725,613 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $45.51 and its 200 day moving average price is $45.48. The firm has a market cap of $12.55 billion, a P/E ratio of 22.42 and a beta of 1.04. Maxim Integrated Products has a 52-week low of $37.25 and a 52-week high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The business had revenue of $602 million for the quarter, compared to analyst estimates of $609.52 million. During the same period last year, the firm earned $0.49 earnings per share. Maxim Integrated Products’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Maxim Integrated Products will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products announced that its board has approved a stock repurchase program on Thursday, July 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 3.24%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 66.33%.

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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.

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