Maxim Integrated Products (MXIM) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “Maxim’s solid momentum across the automotive market remains a major positive. Further, the company remains optimistic about its flexible manufacturing strategy which is expected to aid margin expansion. Notably, the stock has outperformed the industry it belongs to over a year. However, Maxim's high dependence on Samsung is a risk to its growth trajectory. Also, the company is suffering from sluggish bookings and weakening momentum across its customers. These are affecting the company’s position in the industrial market. Further, it is experiencing seasonal fluctuations in the consumer market which remains an overhang. Also, slowing shipment of 100G optical module is likely to impact the company’s performance in data center market.”

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lowered shares of Maxim Integrated Products from a buy rating to a hold rating and decreased their target price for the stock from $75.00 to $65.00 in a research report on Wednesday, September 12th. KeyCorp initiated coverage on shares of Maxim Integrated Products in a research report on Tuesday, September 25th. They set a sector weight rating and a $68.00 target price on the stock. Morgan Stanley decreased 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 report on Wednesday, October 3rd. BidaskClub lowered shares of Maxim Integrated Products from a hold rating to a sell rating in a research report on Tuesday, October 9th. Finally, Goldman Sachs Group lowered shares of Maxim Integrated Products from a neutral rating to a sell rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $60.71.

Shares of MXIM opened at $52.86 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.27 and a current ratio of 3.57. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.63 and a beta of 1.31. Maxim Integrated Products has a 1 year low of $46.64 and a 1 year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $635.19 million. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. Maxim Integrated Products’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. As a group, equities research analysts expect that Maxim Integrated Products will post 2.69 EPS for the current year.

In related news, CEO Tunc Doluca sold 7,500 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $56.98, for a total value of $427,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Bergman sold 4,400 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $53.24, for a total transaction of $234,256.00. The disclosure for this sale can be found here. Insiders sold a total of 43,671 shares of company stock valued at $2,448,005 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MXIM. Avitas Wealth Management LLC increased its stake in shares of Maxim Integrated Products by 4.5% during the 3rd quarter. Avitas Wealth Management LLC now owns 57,193 shares of the semiconductor company’s stock valued at $3,225,000 after acquiring an additional 2,454 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Maxim Integrated Products by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 28,025,275 shares of the semiconductor company’s stock valued at $1,580,346,000 after acquiring an additional 150,909 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Maxim Integrated Products during the 2nd quarter valued at about $578,000. Cullinan Associates Inc. increased its stake in shares of Maxim Integrated Products by 5.3% during the 3rd quarter. Cullinan Associates Inc. now owns 262,400 shares of the semiconductor company’s stock valued at $14,797,000 after acquiring an additional 13,120 shares during the last quarter. Finally, Kepos Capital LP acquired a new position in shares of Maxim Integrated Products during the 3rd quarter valued at about $3,075,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

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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