Maxim Integrated Products, Inc. (MXIM) Downgraded to “Hold” at Zacks Investment Research

Maxim Integrated Products, Inc. (NASDAQ:MXIM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Maxim is an OEM of analog and mixed signal ICs. The fiscal third-quarter earnings of the company were above the Zacks Consensus Estimate.  However, over the last one year, the stock has underperformed the Zacks characterized Semi- Analog & Mixed industry. Maxim has a solid portfolio that generates steady design wins, a highly profitable and well-diversified core business, a policy of maintaining efficiency that has led to cost cutting measures and regular cash returns.  Maxim’s exposure to the consumer and communications markets increases risks. However, the diversification of the consumer revenue across a variety of tablets, wearables, peripherals and smartphones is adding stability to the company’s business profile.”

Other analysts have also issued research reports about the stock. B. Riley reiterated a “neutral” rating and set a $44.00 target price on shares of Maxim Integrated Products in a research note on Friday, April 21st. Maxim Group assumed coverage on shares of Maxim Integrated Products in a research note on Friday. They set a “market perform” rating for the company. BidaskClub lowered shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $47.00 target price (up previously from $45.00) on shares of Maxim Integrated Products in a research note on Monday, April 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $50.00 target price (up previously from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Maxim Integrated Products presently has an average rating of “Buy” and a consensus target price of $47.39.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

Shares of Maxim Integrated Products (NASDAQ MXIM) traded down 1.18% during mid-day trading on Tuesday, reaching $45.94. 1,315,397 shares of the company were exchanged. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 26.40 and a beta of 1.02. The company’s 50-day moving average is $46.82 and its 200 day moving average is $43.98. Maxim Integrated Products has a 12 month low of $33.38 and a 12 month high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. Maxim Integrated Products had a net margin of 22.16% and a return on equity of 26.73%. The firm had revenue of $581 million during the quarter, compared to analyst estimates of $575.83 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Maxim Integrated Products will post $2.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.84%. The ex-dividend date was Tuesday, May 30th. Maxim Integrated Products’s payout ratio is currently 75.86%.

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In related news, VP Christopher J. Neil sold 51,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $44.24, for a total value of $2,256,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 24,500 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $44.59, for a total transaction of $1,092,455.00. The disclosure for this sale can be found here. Insiders sold 250,548 shares of company stock valued at $11,544,456 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Maxim Integrated Products during the fourth quarter valued at $3,119,000. Aberdeen Asset Management PLC UK increased its stake in Maxim Integrated Products by 4.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 27,004 shares of the semiconductor company’s stock valued at $1,042,000 after buying an additional 1,075 shares during the last quarter. Comerica Bank bought a new stake in Maxim Integrated Products during the fourth quarter valued at $580,000. State Street Corp increased its stake in Maxim Integrated Products by 1.1% in the fourth quarter. State Street Corp now owns 6,040,369 shares of the semiconductor company’s stock valued at $232,979,000 after buying an additional 67,647 shares during the last quarter. Finally, Prudential PLC bought a new stake in Maxim Integrated Products during the fourth quarter valued at $702,000. 89.52% of the stock is owned by institutional investors and hedge funds.

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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