Benchmark Initiates Coverage on Maxim Integrated Products (NASDAQ:MXIM)

Analysts at Benchmark initiated coverage on shares of Maxim Integrated Products (NASDAQ:MXIM) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “hold” rating on the semiconductor company’s stock.

Several other brokerages have also issued reports on MXIM. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a report on Thursday, July 25th. Barclays lifted their price target on Maxim Integrated Products from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. MKM Partners lifted their price target on Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $64.00 price target on shares of Maxim Integrated Products in a report on Tuesday, April 30th. Finally, Bank of America reiterated a “neutral” rating and set a $67.00 price target (up from $60.00) on shares of Maxim Integrated Products in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $61.75.

NASDAQ MXIM traded down $1.11 during trading on Thursday, reaching $55.90. 2,505,022 shares of the company’s stock were exchanged, compared to its average volume of 1,295,317. Maxim Integrated Products has a fifty-two week low of $46.64 and a fifty-two week high of $65.73. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.94 and a beta of 1.38. The company has a quick ratio of 5.77, a current ratio of 6.84 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $60.56.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.57. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. The firm had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.97 million. During the same period last year, the company posted $0.73 EPS. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Maxim Integrated Products will post 2.62 earnings per share for the current fiscal year.

In related news, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.00, for a total value of $142,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Bruce E. Kiddoo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $58.52, for a total value of $292,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock valued at $1,118,220. 0.85% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of MXIM. Qube Research & Technologies Ltd bought a new position in Maxim Integrated Products in the 2nd quarter worth approximately $946,000. Mondrian Capital Management LLC bought a new position in Maxim Integrated Products in the 2nd quarter worth approximately $4,187,000. Comerica Bank increased its position in Maxim Integrated Products by 3.7% in the 2nd quarter. Comerica Bank now owns 52,667 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 1,881 shares during the period. Envestnet Asset Management Inc. increased its position in Maxim Integrated Products by 59.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 127,107 shares of the semiconductor company’s stock worth $7,604,000 after buying an additional 47,205 shares during the period. Finally, Ardevora Asset Management LLP increased its position in Maxim Integrated Products by 14.6% in the 2nd quarter. Ardevora Asset Management LLP now owns 740,578 shares of the semiconductor company’s stock worth $44,301,000 after buying an additional 94,400 shares during the period. 93.59% of the stock is currently owned by institutional investors and hedge funds.

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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