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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/15/maxim-integrated-products-inc-mxim-given-overweight-rating-at-pacific-crest.html
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.
Receive News & Ratings for Maxim Integrated Products Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Maxim Integrated Products Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.