Maxim Integrated Products (MXIM) Price Target Cut to $53.00

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Maxim Integrated Products (NASDAQ:MXIM) had its target price decreased by research analysts at Morgan Stanley from $54.00 to $53.00 in a research report issued on Wednesday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 1.77% from the company’s current price.

Other equities analysts have also issued reports about the company. Jefferies Financial Group reduced their price objective on Maxim Integrated Products from $68.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Loop Capital reduced their price objective on Maxim Integrated Products to $59.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Deutsche Bank reduced their price objective on Maxim Integrated Products from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Barclays dropped their target price on Maxim Integrated Products from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 23rd. Finally, SunTrust Banks dropped their target price on Maxim Integrated Products to $51.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.71.

MXIM stock opened at $52.08 on Wednesday. Maxim Integrated Products has a fifty-two week low of $46.85 and a fifty-two week high of $74.94. 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 company has a market cap of $14.46 billion, a P/E ratio of 19.22, a PEG ratio of 1.65 and a beta of 1.34.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $635.19 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Maxim Integrated Products will post 2.7 earnings per share for the current year.

In related news, CEO Tunc Doluca sold 5,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sumeet Gagneja sold 517 shares of the stock in a transaction on Monday, December 3rd. The stock was 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 sold 48,671 shares of company stock worth $2,732,005 in the last quarter. 0.85% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of MXIM. IMS Capital Management purchased a new stake in shares of Maxim Integrated Products in the third quarter worth $28,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Maxim Integrated Products in the third quarter worth $114,000. Legacy Advisors LLC purchased a new stake in shares of Maxim Integrated Products in the third quarter worth $116,000. Steward Partners Investment Advisory LLC raised its position in Maxim Integrated Products by 91.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 989 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in Maxim Integrated Products during the third quarter valued at about $119,000. Institutional investors own 91.80% 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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