Morgan Stanley Lowers Maxim Integrated Products (MXIM) Price Target to $54.00

Maxim Integrated Products (NASDAQ:MXIM) had its target price cut by Morgan Stanley from $59.00 to $54.00 in a research report issued on Wednesday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential upside of 1.66% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Stifel Nicolaus boosted their target price on Maxim Integrated Products from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Deutsche Bank lowered their target price on Maxim Integrated Products from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Loop Capital lowered their target price on Maxim Integrated Products to $59.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group lowered their target price on Maxim Integrated Products from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Maxim Integrated Products presently has a consensus rating of “Hold” and a consensus target price of $60.76.

Shares of MXIM stock opened at $53.12 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.03 and a quick ratio of 3.67. Maxim Integrated Products has a 12-month low of $46.85 and a 12-month high of $74.94. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.41 and a beta of 1.18.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Maxim Integrated Products had a return on equity of 41.60% and a net margin of 20.06%. The company had revenue of $638.50 million during the quarter, compared to analyst estimates of $635.19 million. During the same quarter in the previous year, the company posted $0.60 EPS. Maxim Integrated Products’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Maxim Integrated Products will post 3.03 earnings per share for the current fiscal year.

In related news, VP Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $63.00, for a total transaction of $1,575,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tunc Doluca sold 5,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total value of $284,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,379 shares of company stock worth $3,339,696. 0.85% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MXIM. Metropolitan Life Insurance Co. NY grew its holdings in shares of Maxim Integrated Products by 4.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock worth $1,287,000 after acquiring an additional 902 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Maxim Integrated Products by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock worth $14,289,000 after acquiring an additional 913 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Maxim Integrated Products by 91.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 989 shares during the period. Argent Trust Co grew its holdings in shares of Maxim Integrated Products by 27.3% during the 2nd quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 1,019 shares during the period. Finally, Ridgewood Investments LLC grew its holdings in shares of Maxim Integrated Products by 11.7% during the 3rd quarter. Ridgewood Investments LLC now owns 11,286 shares of the semiconductor company’s stock worth $636,000 after acquiring an additional 1,186 shares during the period. Institutional investors own 90.87% of the company’s stock.

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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