Maxim Integrated Products Inc. (NASDAQ:MXIM) – Analysts at KeyCorp cut their FY2019 earnings per share (EPS) estimates for Maxim Integrated Products in a research note issued on Tuesday, October 30th. KeyCorp analyst J. Vinh now forecasts that the semiconductor company will post earnings of $2.67 per share for the year, down from their prior forecast of $3.05. KeyCorp currently has a “Sector Weight” rating and a $68.00 price target on the stock.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a research report on Friday, July 27th. JPMorgan Chase & Co. upped their price objective on Maxim Integrated Products from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Finally, MKM Partners upped their price objective on Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $60.76.
NASDAQ:MXIM opened at $51.91 on Friday. Maxim Integrated Products has a 1 year low of $46.85 and a 1 year high of $74.94. The company has a quick ratio of 3.67, a current ratio of 4.03 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) 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 firm had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $635.19 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date is Wednesday, November 28th. This represents a $1.84 annualized dividend and a yield of 3.54%. Maxim Integrated Products’s payout ratio is presently 67.90%.
In other news, VP Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available at the SEC website. Also, CEO Tunc Doluca sold 5,000 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was 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. Insiders have sold 54,379 shares of company stock worth $3,339,696 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Krane Funds Advisors LLC increased its stake in shares of Maxim Integrated Products by 20.8% during the second quarter. Krane Funds Advisors LLC now owns 10,882 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 1,876 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Maxim Integrated Products during the second quarter worth approximately $578,000. Kiwi Wealth Investments Limited Partnership bought a new position in shares of Maxim Integrated Products during the second quarter worth approximately $5,876,000. Argent Trust Co increased its stake in shares of Maxim Integrated Products by 27.3% during the second quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 1,019 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Maxim Integrated Products by 1.4% during the second quarter. Van ECK Associates Corp now owns 696,612 shares of the semiconductor company’s stock worth $40,863,000 after purchasing an additional 9,596 shares during the period. Institutional investors own 90.87% of the company’s stock.
Maxim Integrated Products Company Profile
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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