Maxim Integrated Products (NASDAQ:MXIM) Given New $72.00 Price Target at JPMorgan Chase & Co.

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Maxim Integrated Products (NASDAQ:MXIM) had its price objective hoisted by JPMorgan Chase & Co. from $69.00 to $72.00 in a research report report published on Wednesday, October 30th, The Fly reports.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Maxim Integrated Products from a buy rating to a hold rating in a research note on Monday, October 7th. Maxim Group cut Maxim Integrated Products from a neutral rating to an underperform rating in a research note on Friday, September 27th. Bank of America raised their target price on Maxim Integrated Products from $60.00 to $65.00 and gave the stock an underperform rating in a research note on Wednesday, October 30th. Deutsche Bank set a $70.00 price target on Maxim Integrated Products and gave the stock a buy rating in a report on Friday, July 26th. Finally, Cowen increased their price target on Maxim Integrated Products from $57.00 to $62.00 and gave the stock a market perform rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $62.08.

NASDAQ MXIM traded down $0.05 on Wednesday, reaching $59.55. The stock had a trading volume of 1,366,100 shares, compared to its average volume of 1,816,003. The company has a market cap of $16.47 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.41. The firm has a fifty day moving average of $57.97 and a two-hundred day moving average of $57.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.08 and a quick ratio of 6.39. Maxim Integrated Products has a 1-year low of $46.64 and a 1-year high of $65.73.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $530.99 million. Maxim Integrated Products had a return on equity of 34.55% and a net margin of 34.87%. The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Research analysts predict that Maxim Integrated Products will post 2.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.22%. Maxim Integrated Products’s dividend payout ratio is presently 79.01%.

In related news, SVP Edwin Medlin sold 22,500 shares of Maxim Integrated Products stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $59.77, for a total transaction of $1,344,825.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tunc Doluca sold 19,000 shares of Maxim Integrated Products stock in a transaction on Monday, November 4th. The stock was sold at an average price of $60.83, for a total value of $1,155,770.00. The disclosure for this sale can be found here. Insiders sold 123,468 shares of company stock worth $7,146,585 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

A number of institutional investors have recently modified their holdings of MXIM. FTB Advisors Inc. purchased a new stake in Maxim Integrated Products in the third quarter worth $29,000. Coastal Investment Advisors Inc. increased its position in Maxim Integrated Products by 97.5% in the second quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock worth $34,000 after buying an additional 276 shares during the last quarter. Synovus Financial Corp increased its position in Maxim Integrated Products by 60.3% in the third quarter. Synovus Financial Corp now owns 625 shares of the semiconductor company’s stock worth $37,000 after buying an additional 235 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in Maxim Integrated Products by 58.8% in the third quarter. TCI Wealth Advisors Inc. now owns 670 shares of the semiconductor company’s stock worth $39,000 after buying an additional 248 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Maxim Integrated Products by 175.7% in the second quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock worth $44,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

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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