Maxim Integrated Products (MXIM) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a sell rating to a hold rating in a research note released on Thursday.

According to Zacks, “Maxim’s solid momentum across the automotive market remains a major positive. Further, the company remains optimistic about its flexible manufacturing strategy which is expected to aid margin expansion. Notably, the stock has outperformed the industry it belongs to over a year. However, Maxim's high dependence on Samsung is a risk to its growth trajectory. Also, the company is suffering from sluggish bookings and weakening momentum across its customers. These are affecting the company’s position in the industrial market. Further, it is experiencing seasonal fluctuations in the consumer market which remains an overhang. Also, slowing shipment of 100G optical module is likely to impact the company’s performance in data center market.”

MXIM has been the subject of several other reports. BidaskClub upgraded Maxim Integrated Products from a sell rating to a hold rating in a research note on Friday, November 23rd. Goldman Sachs Group cut Maxim Integrated Products from a neutral rating to a sell rating in a research note on Thursday, October 18th. Morgan Stanley reduced their target price on Maxim Integrated Products from $59.00 to $54.00 and set an equal weight rating for the company in a research note on Wednesday, October 31st. SunTrust Banks reduced their target price on Maxim Integrated Products to $51.00 and set a hold rating for the company in a research note on Wednesday, October 31st. Finally, Jefferies Financial Group reduced their target price on Maxim Integrated Products from $68.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $60.71.

NASDAQ MXIM opened at $52.86 on Thursday. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 1.63 and a beta of 1.31. Maxim Integrated Products has a fifty-two week low of $46.64 and a fifty-two week high of $74.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.57 and a quick ratio of 3.27.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $638.50 million during the quarter, compared to analysts’ expectations of $635.19 million. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. Maxim Integrated Products’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, sell-side analysts forecast that Maxim Integrated Products will post 2.69 earnings per share for the current fiscal year.

In related news, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $55.79, for a total transaction of $139,475.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $234,256.00. The disclosure for this sale can be found here. Insiders have sold 43,671 shares of company stock worth $2,448,005 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IMS Capital Management acquired a new stake in Maxim Integrated Products in the third quarter worth $28,000. Investment Partners LTD. acquired a new stake in Maxim Integrated Products in the third quarter worth $314,000. Capital Advisors Ltd. LLC acquired a new stake in Maxim Integrated Products in the third quarter worth $114,000. Legacy Advisors LLC acquired a new stake in Maxim Integrated Products in the third quarter worth $116,000. Finally, Steward Partners Investment Advisory LLC increased its position in Maxim Integrated Products by 91.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after buying an additional 989 shares during the period. Hedge funds and other institutional investors own 91.77% 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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