Maxim Integrated Products (MXIM) Lowered to “Sell” at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a neutral rating to a sell rating in a research note published on Thursday morning, MarketBeat Ratings reports.

A number of other research firms have also recently weighed in on MXIM. KeyCorp initiated coverage on shares of Maxim Integrated Products in a research note on Tuesday, September 25th. They issued a sector weight rating and a $68.00 target price on the stock. Stifel Nicolaus cut shares of Maxim Integrated Products from a buy rating to a hold rating and lowered their target price for the company from $75.00 to $65.00 in a research note on Wednesday, September 12th. ValuEngine cut shares of Maxim Integrated Products from a buy rating to a hold rating in a research note on Friday, September 7th. Morgan Stanley lowered their target price on shares of Maxim Integrated Products from $60.00 to $59.00 and set an equal weight rating on the stock in a research note on Wednesday, October 3rd. Finally, Loop Capital initiated coverage on shares of 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. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $61.89.

Shares of NASDAQ:MXIM traded down $0.14 on Thursday, hitting $51.22. 219,720 shares of the company were exchanged, compared to its average volume of 2,339,628. Maxim Integrated Products has a one year low of $49.21 and a one year high of $74.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.67 and a current ratio of 4.03. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.48 and a beta of 1.18.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $633.10 million for the quarter, compared to the consensus estimate of $630.39 million. Maxim Integrated Products had a net margin of 18.84% and a return on equity of 37.83%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. Equities analysts predict that Maxim Integrated Products will post 3.05 EPS for the current year.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 5,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total value of $284,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $63.00, for a total transaction of $1,575,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,879 shares of company stock worth $3,553,301. Company insiders own 0.85% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MXIM. Kiley Juergens Wealth Management LLC acquired a new position in shares of Maxim Integrated Products during the second quarter worth approximately $117,000. Legacy Advisors LLC acquired a new position in shares of Maxim Integrated Products during the third quarter worth approximately $116,000. First Hawaiian Bank acquired a new position in shares of Maxim Integrated Products during the third quarter worth approximately $148,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Maxim Integrated Products during the first quarter worth approximately $205,000. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Maxim Integrated Products during the first quarter worth approximately $236,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.

About Maxim Integrated Products

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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