Published On: Thu, Sep 15th, 2016

Maxim Integrated Products Inc. (MXIM) Given “Overweight” Rating at Pacific Crest

Maxim Integrated Products Inc. (NASDAQ:MXIM)‘s stock had its “overweight” rating reiterated by equities research analysts at Pacific Crest in a report released on Thursday.
MXIM has been the subject of a number of other research reports. Maxim Group cut Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 8th. Barclays PLC lifted their price target on Maxim Integrated Products from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 31st. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Thursday, June 23rd. Jefferies Group restated a “buy” rating and issued a $42.00 price target (up previously from $41.00) on shares of Maxim Integrated Products in a report on Tuesday, July 26th. Finally, Royal Bank Of Canada cut Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.68.
Maxim Integrated Products (NASDAQ:MXIM) traded up 1.40% during midday trading on Thursday, hitting $39.04. 701,667 shares of the stock were exchanged. The firm has a 50-day moving average price of $40.47 and a 200-day moving average price of $37.44. Maxim Integrated Products has a one year low of $30.28 and a one year high of $42.37. The stock has a market cap of $11.07 billion, a P/E ratio of 49.42 and a beta of 1.02.

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Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm earned $566 million during the quarter, compared to analysts’ expectations of $575.46 million. Maxim Integrated Products had a return on equity of 22.15% and a net margin of 10.36%. On average, equities research analysts anticipate that Maxim Integrated Products will post $1.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 3.43%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 169.23%.
In related news, VP Edwin Medlin sold 26,552 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $40.07, for a total value of $1,063,938.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tunc Doluca sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $35.53, for a total transaction of $355,300.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in MXIM. Global X Management Co. LLC boosted its position in shares of Maxim Integrated Products by 87.8% in the second quarter. Global X Management Co. LLC now owns 2,824 shares of the company’s stock valued at $101,000 after buying an additional 1,320 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Maxim Integrated Products by 31.3% in the second quarter. IFP Advisors Inc now owns 2,874 shares of the company’s stock valued at $103,000 after buying an additional 685 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of Maxim Integrated Products during the second quarter valued at $110,000. Tower Research Capital LLC TRC boosted its position in shares of Maxim Integrated Products by 432.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,897 shares of the company’s stock valued at $139,000 after buying an additional 3,165 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its position in shares of Maxim Integrated Products by 125.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,233 shares of the company’s stock valued at $151,000 after buying an additional 2,354 shares during the last quarter. 90.51% of the stock is currently owned by institutional investors and hedge funds.
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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.

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