Maxim Integrated Products, Inc. (MXIM) Given New $53.00 Price Target at Credit Suisse Group

Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price target increased by Credit Suisse Group from $46.00 to $53.00 in a research report report published on Friday. Credit Suisse Group currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts also recently commented on the company. Loop Capital reiterated a buy rating and issued a $43.00 price objective on shares of Maxim Integrated Products in a research note on Tuesday, August 22nd. Maxim Group reiterated a buy rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Drexel Hamilton reiterated a buy rating and issued a $52.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Morgan Stanley upped their price objective on Maxim Integrated Products from $37.00 to $40.00 and gave the company an underweight rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reiterated a buy rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $51.55.

Shares of Maxim Integrated Products (MXIM) traded up 3.99% during trading on Friday, hitting $52.09. The stock had a trading volume of 4,541,274 shares. The company’s 50 day moving average price is $47.85 and its 200 day moving average price is $46.26. Maxim Integrated Products has a 52 week low of $37.32 and a 52 week high of $53.10. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 26.31 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $576.80 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. Maxim Integrated Products’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that Maxim Integrated Products will post $2.35 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. Maxim Integrated Products’s payout ratio is currently 70.24%.

Maxim Integrated Products declared that its board has authorized a stock repurchase program on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

In related news, CEO Tunc Doluca sold 15,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.91, for a total value of $718,650.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Ann Wright sold 560 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $46.29, for a total value of $25,922.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,443 shares of company stock worth $6,266,251. Insiders own 1.11% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its stake in Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 764 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 343 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Maxim Integrated Products in the second quarter valued at $115,000. Acrospire Investment Management LLC increased its stake in Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its stake in Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 500 shares during the last quarter. 89.49% of the stock is currently owned by institutional investors and hedge funds.

About Maxim Integrated Products

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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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