Maxim Integrated Products (MXIM) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a hold rating to a sell rating in a report published on Wednesday.

According to Zacks, “Maxim has a solid portfolio that generates steady design wins, a highly profitable and well-diversified core business, a policy of maintaining efficiency that has led to cost cutting measures and regular cash returns. The diversification of the consumer revenue across a variety of tablets, wearables, peripherals and smartphones is adding stability to the company’s business profile. However, Maxim’s exposure to the consumer and communications markets increases risks. High dependence on Samsung poses significant threat for the company. On a year to date basis, the stock has outperformed the industry to which it belongs to.”

Several other brokerages have also issued reports on MXIM. Citigroup lifted their price target on Maxim Integrated Products from $44.00 to $50.00 and gave the company a neutral rating in a report on Monday, October 23rd. Morgan Stanley boosted their target price on Maxim Integrated Products from $42.00 to $44.00 and gave the stock an underweight rating in a report on Wednesday, December 13th. B. Riley boosted their target price on Maxim Integrated Products from $47.00 to $50.00 and gave the stock a neutral rating in a report on Friday, October 20th. Stifel Nicolaus boosted their target price on Maxim Integrated Products from $54.00 to $57.00 and gave the stock a buy rating in a report on Friday, October 20th. Finally, Drexel Hamilton boosted their target price on Maxim Integrated Products from $52.00 to $60.00 and gave the stock a buy rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $52.24.

Shares of Maxim Integrated Products (NASDAQ MXIM) traded up $0.22 during trading on Wednesday, hitting $53.39. The stock had a trading volume of 1,359,000 shares, compared to its average volume of 2,034,744. The firm has a market cap of $14,966.64, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. The company has a current ratio of 14.14, a quick ratio of 13.09 and a debt-to-equity ratio of 0.68. Maxim Integrated Products has a fifty-two week low of $38.18 and a fifty-two week high of $55.43.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. equities research analysts predict that Maxim Integrated Products will post 2.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, November 29th. Maxim Integrated Products’s dividend payout ratio is currently 70.24%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 15,000 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.91, for a total value of $718,650.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher J. Neil sold 3,500 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.50, for a total value of $166,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,617 shares of company stock worth $11,679,687. Company insiders own 1.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MXIM. Northwestern Mutual Wealth Management Co. increased its position in Maxim Integrated Products by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares during the period. Acrospire Investment Management LLC increased its position in shares of Maxim Integrated Products by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Maxim Integrated Products during the third quarter valued at approximately $128,000. IFP Advisors Inc increased its position in shares of Maxim Integrated Products by 68.5% during the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 1,266 shares during the period. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Maxim Integrated Products during the second quarter valued at approximately $144,000. 90.31% of the stock is currently owned by institutional investors.

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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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