Maxim Integrated Products (NASDAQ:MXIM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.
A number of other research firms also recently weighed in on MXIM. Cowen reaffirmed a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a research note on Wednesday, May 1st. Royal Bank of Canada set a €145.00 ($168.60) price objective on Aena SME and gave the stock a “sell” rating in a research note on Tuesday, April 30th. Bank of America reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Zendesk in a research note on Wednesday, May 1st. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, MKM Partners increased their price objective on Advanced Micro Devices to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.50.
MXIM stock traded up $0.23 during trading on Tuesday, reaching $61.35. 1,141,800 shares of the stock were exchanged, compared to its average volume of 1,910,161. The business’s 50 day simple moving average is $57.01. Maxim Integrated Products has a twelve month low of $46.64 and a twelve month high of $63.68. The company has a current ratio of 6.46, a quick ratio of 5.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.94 and a beta of 1.42.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The business had revenue of $542.38 million for the quarter, compared to the consensus estimate of $540.17 million. During the same period in the prior year, the business earned $0.73 EPS. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Maxim Integrated Products will post 2.44 EPS for the current year.
In other news, CEO Tunc Doluca sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $61.16, for a total value of $428,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce E. Kiddoo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $58.52, for a total value of $292,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,246 shares of company stock valued at $3,243,413. 0.85% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MXIM. Quadrant Capital Group LLC grew its holdings in Maxim Integrated Products by 328.1% during the first quarter. Quadrant Capital Group LLC now owns 488 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 374 shares during the period. First Personal Financial Services grew its holdings in Maxim Integrated Products by 76.9% during the first quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 297 shares during the period. CWM LLC grew its holdings in Maxim Integrated Products by 38.5% during the first quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 230 shares during the period. Global Retirement Partners LLC grew its holdings in Maxim Integrated Products by 66.8% during the fourth quarter. Global Retirement Partners LLC now owns 899 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 360 shares during the period. Finally, Tompkins Financial Corp grew its holdings in Maxim Integrated Products by 574.6% during the first quarter. Tompkins Financial Corp now owns 850 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 724 shares during the period. 93.38% of the stock is owned by institutional investors.
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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