Maxim Integrated Products (MXIM) PT Raised to $61.00

Maxim Integrated Products (NASDAQ:MXIM) had its target price raised by research analysts at Stifel Nicolaus from $57.00 to $61.00 in a report issued on Thursday. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 7.81% from the company’s previous close.

Several other analysts have also issued reports on MXIM. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Morgan Stanley upped their target price on Maxim Integrated Products from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. Citigroup upped their target price on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. SunTrust Banks upped their target price on Maxim Integrated Products to $53.00 and gave the stock a “hold” rating in a report on Friday, October 20th. Finally, BMO Capital Markets upped their target price on Maxim Integrated Products from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $52.43.

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up $0.77 during trading on Thursday, hitting $56.58. The stock had a trading volume of 2,609,254 shares, compared to its average volume of 1,491,504. The company has a market capitalization of $15,709.77, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. Maxim Integrated Products has a 12 month low of $40.88 and a 12 month high of $56.63. The company has a current ratio of 14.14, a quick ratio of 13.09 and a debt-to-equity ratio of 0.68.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $576.00 million for the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. analysts expect that Maxim Integrated Products will post 2.49 earnings per share for the current fiscal year.

In other Maxim Integrated Products news, VP Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $51.71, for a total transaction of $1,292,750.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Vivek Jain sold 6,793 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $52.18, for a total value of $354,458.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 234,819 shares of company stock worth $12,313,336. Company insiders own 1.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MXIM. American Century Companies Inc. grew its position in shares of Maxim Integrated Products by 17.2% in the third quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after purchasing an additional 2,087,911 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Maxim Integrated Products by 29.9% in the third quarter. Bank of New York Mellon Corp now owns 13,758,325 shares of the semiconductor company’s stock valued at $656,409,000 after purchasing an additional 3,164,871 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Maxim Integrated Products by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 10,144,296 shares of the semiconductor company’s stock valued at $484,652,000 after purchasing an additional 319,169 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Maxim Integrated Products by 0.7% in the third quarter. Wells Fargo & Company MN now owns 6,570,282 shares of the semiconductor company’s stock valued at $313,467,000 after purchasing an additional 48,535 shares during the last quarter. Finally, State Street Corp grew its position in shares of Maxim Integrated Products by 0.5% in the second quarter. State Street Corp now owns 6,384,084 shares of the semiconductor company’s stock valued at $286,644,000 after purchasing an additional 28,762 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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About Maxim Integrated Products

Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.

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