Deutsche Bank Trims Maxim Integrated Products (MXIM) Target Price to $60.00

Maxim Integrated Products (NASDAQ:MXIM) had its target price lowered by Deutsche Bank from $63.00 to $60.00 in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on MXIM. BMO Capital Markets increased their target price on Maxim Integrated Products from $55.00 to $60.00 and gave the company a market perform rating in a research note on Friday, July 27th. Maxim Group reissued a hold rating on shares of Maxim Integrated Products in a research note on Friday, July 27th. BidaskClub raised Maxim Integrated Products from a hold rating to a buy rating in a research note on Friday, August 10th. MKM Partners increased their target price on Maxim Integrated Products to $62.00 and gave the company a neutral rating in a research note on Friday, July 27th. Finally, Barclays cut their target price on Maxim Integrated Products from $60.00 to $55.00 and set an equal weight rating on the stock in a research note on Tuesday, October 23rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. Maxim Integrated Products currently has a consensus rating of Hold and a consensus price target of $60.76.

NASDAQ:MXIM opened at $51.91 on Wednesday. Maxim Integrated Products has a 1-year low of $46.85 and a 1-year high of $74.94. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 1.28.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Maxim Integrated Products had a return on equity of 41.60% and a net margin of 20.06%. The firm had revenue of $638.50 million for the quarter, compared to analyst estimates of $635.19 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts anticipate that Maxim Integrated Products will post 2.71 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Wednesday, November 28th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

In other news, VP Vivek Jain sold 10,474 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was 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 SEC, which is accessible through this link. Also, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,379 shares of company stock worth $3,339,696. 0.85% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new stake in Maxim Integrated Products in the 3rd quarter valued at approximately $114,000. Legacy Advisors LLC acquired a new stake in Maxim Integrated Products in the 3rd quarter valued at approximately $116,000. Kiley Juergens Wealth Management LLC acquired a new stake in Maxim Integrated Products in the 2nd quarter valued at approximately $117,000. Steward Partners Investment Advisory LLC raised its position in Maxim Integrated Products by 91.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 989 shares during the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Maxim Integrated Products in the 3rd quarter valued at approximately $119,000. 90.87% of the stock is currently owned by institutional investors.

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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