Maxim Integrated Products (MXIM) Downgraded to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a buy rating to a hold rating in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has $65.00 price objective on the semiconductor company’s stock, down from their previous price objective of $75.00.

A number of other research analysts have also recently commented on MXIM. BidaskClub cut Maxim Integrated Products from a strong-buy rating to a buy rating in a research note on Friday, June 8th. Maxim Group reissued a hold rating on shares of Maxim Integrated Products in a research note on Thursday, June 14th. Loop Capital started coverage on Maxim Integrated Products in a research note on Friday, June 22nd. They issued a buy rating and a $70.00 target price on the stock. Zacks Investment Research cut Maxim Integrated Products from a hold rating to a sell rating in a research note on Thursday, June 28th. Finally, KeyCorp upped their price target on shares of Maxim Integrated Products from $65.00 to $68.00 and gave the company an overweight rating in a research report on Friday, July 27th. Fifteen analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $61.06.

MXIM opened at $57.91 on Wednesday. The firm has a market capitalization of $16.01 billion, a P/E ratio of 21.37, a PEG ratio of 1.59 and a beta of 1.19. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. Maxim Integrated Products has a 52 week low of $45.79 and a 52 week high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 26th. The semiconductor company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The business had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $630.39 million. Maxim Integrated Products had a return on equity of 38.37% and a net margin of 18.84%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. sell-side analysts anticipate that Maxim Integrated Products will post 3.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.18%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, August 29th. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.

In other news, VP Vivek Jain sold 10,474 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $61.87, for a total transaction of $648,026.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $58.48, for a total transaction of $204,680.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,379 shares of company stock valued at $3,473,981. Company insiders own 1.11% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $106,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Maxim Integrated Products during the second quarter worth about $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $205,000. Cigna Investments Inc. New purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $209,000. Finally, Hilltop Holdings Inc. purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $218,000. Institutional investors own 90.72% 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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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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