Maxim Integrated Products (MXIM) Receives Sell Rating from Maxim Group

Maxim Group restated their sell rating on shares of Maxim Integrated Products (NASDAQ:MXIM) in a report published on Friday.

MXIM has been the subject of a number of other research reports. Deutsche Bank dropped their price target on Maxim Integrated Products from $63.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, October 31st. Zacks Investment Research raised Maxim Integrated Products from a sell rating to a hold rating in a research report on Thursday, January 3rd. Barclays lowered their price objective on Maxim Integrated Products from $60.00 to $55.00 and set an equal weight rating for the company in a research report on Tuesday, October 23rd. Citigroup lowered their price objective on Maxim Integrated Products from $61.00 to $50.00 and set a hold rating for the company in a research report on Wednesday, October 31st. Finally, Goldman Sachs Group lowered Maxim Integrated Products from a neutral rating to a sell rating in a research report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $60.20.

Shares of MXIM stock opened at $54.69 on Friday. Maxim Integrated Products has a 52 week low of $46.64 and a 52 week high of $64.40. The firm has a market capitalization of $14.96 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.91 and a beta of 1.35. The company has a quick ratio of 5.85, a current ratio of 6.54 and a debt-to-equity ratio of 0.57.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. The business had revenue of $576.91 million during the quarter, compared to analysts’ expectations of $590.50 million. Sell-side analysts anticipate that Maxim Integrated Products will post 2.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, February 27th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

In other news, Director James R. Bergman sold 4,400 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $53.24, for a total transaction of $234,256.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sumeet Gagneja sold 517 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $56.72, for a total value of $29,324.24. The disclosure for this sale can be found here. Insiders have sold 69,445 shares of company stock valued at $3,877,229 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Several large investors have recently modified their holdings of MXIM. IMS Capital Management bought a new position in shares of Maxim Integrated Products during the third quarter valued at $28,000. CWM LLC increased its holdings in Maxim Integrated Products by 78.0% in the 4th quarter. CWM LLC now owns 598 shares of the semiconductor company’s stock worth $30,000 after buying an additional 262 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in Maxim Integrated Products by 311.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 766 shares of the semiconductor company’s stock worth $39,000 after buying an additional 580 shares in the last quarter. Sun Life Financial INC bought a new stake in Maxim Integrated Products in the 4th quarter worth about $39,000. Finally, Guardian Life Insurance Co. of America bought a new stake in Maxim Integrated Products in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 94.22% 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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