Maxim Group reiterated their hold rating on shares of Maxim Integrated Products (NASDAQ:MXIM) in a report released on Friday, January 26th. They currently have a $67.00 target price on the semiconductor company’s stock.
“MXIM reported upside results with F2Q (Dec) $623M/$0.65 edging the Street’s $621M/$0.65E. F3Q (Mar) outlook impressed further, with expected sales/EPS of $640M/$0.69 vs. consensus $602M/$0.63E. Importantly, the magnitude of the raise was more pronounced vs. TXN’s, with growth expected across all core segments. Auto/Industrial (50% combined) grew double-digits (%) in F2Q and expected up again strongly in F3Q. Consumer is also expected up significantly ahead of Samsung’s latest flagship launch. GM was 90bps above expectations and should drift higher going forward. Mgmt highlighted steady lead times, in-line channel inventory and few signs of double-ordering. Mgmt’s focus on FCF is bearing fruit, evidenced by the decision to increase return from 80% to 100%. At current levels we see risk/reward balanced and remain sidelined for now.”,” the firm’s analyst commented.
Other research analysts also recently issued research reports about the company. Bank of America upped their price objective on Maxim Integrated Products from $51.00 to $56.00 and gave the company a buy rating in a research note on Friday, October 20th. Loop Capital restated a buy rating and set a $57.00 price target (up from $53.00) on shares of Maxim Integrated Products in a report on Friday, October 20th. Stifel Nicolaus increased their price target on Maxim Integrated Products from $54.00 to $57.00 and gave the stock a buy rating in a report on Friday, October 20th. Drexel Hamilton increased 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. Finally, Barclays increased their target price on Maxim Integrated Products from $46.00 to $50.00 and gave the stock an equal weight rating in a report on Wednesday, October 18th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Maxim Integrated Products currently has a consensus rating of Hold and a consensus price target of $54.29.
Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at $58.75 on Friday. Maxim Integrated Products has a 52-week low of $43.35 and a 52-week high of $74.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.48 and a quick ratio of 4.14. The stock has a market cap of $12,645.50, a PE ratio of 23.75, a PEG ratio of 2.14 and a beta of 1.20.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. The business had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $620.46 million. Maxim Integrated Products had a net margin of 16.08% and a return on equity of 32.59%. During the same quarter in the prior year, the business posted $0.46 earnings per share. Maxim Integrated Products’s revenue was up 8.2% compared to the same quarter last year. sell-side analysts forecast that Maxim Integrated Products will post 2.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, February 28th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.36. Maxim Integrated Products’s dividend payout ratio (DPR) is 108.27%.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 31,000 shares of Maxim Integrated Products stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $61.16, for a total value of $1,895,960.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Vivek Jain sold 1,793 shares of Maxim Integrated Products stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $53.28, for a total value of $95,531.04. The disclosure for this sale can be found here. Insiders sold a total of 234,749 shares of company stock valued at $13,647,197 in the last 90 days. 1.11% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cerebellum GP LLC purchased a new position in shares of Maxim Integrated Products during the fourth quarter valued at approximately $121,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Maxim Integrated Products during the third quarter valued at approximately $128,000. Aviance Capital Management LLC increased its stake in shares of Maxim Integrated Products by 38,728.6% during the fourth quarter. Aviance Capital Management LLC now owns 2,718 shares of the semiconductor company’s stock valued at $142,000 after buying an additional 2,711 shares during the period. Mckinley Capital Management LLC Delaware purchased a new stake in Maxim Integrated Products in the second quarter worth $144,000. Finally, Toronto Dominion Bank grew its stake in Maxim Integrated Products by 12.1% in the second quarter. Toronto Dominion Bank now owns 3,474 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 375 shares during the period.
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Maxim Integrated Products Company Profile
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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