Maxim Integrated Products (NASDAQ:MXIM) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from a hold rating to a buy rating in a research note published on Saturday, June 29th, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Shopify from $155.00 to $225.00 and gave the company an equal weight rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of Inflarx from a buy rating to a hold rating in a research note on Friday, May 3rd. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Cowen reiterated a hold rating and set a $103.00 price objective on shares of United Therapeutics in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada set a €145.00 ($168.60) price objective on shares of Aena SME and gave the company a sell rating in a research report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $61.50.

NASDAQ MXIM traded down $0.08 during trading on Friday, hitting $62.08. The company had a trading volume of 1,039,436 shares, compared to its average volume of 1,367,653. The firm has a market capitalization of $16.97 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.42. The company has a current ratio of 6.46, a quick ratio of 5.77 and a debt-to-equity ratio of 0.60. Maxim Integrated Products has a one year low of $46.64 and a one year high of $63.68. The stock has a fifty day simple moving average of $58.55.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $542.38 million during the quarter, compared to analyst estimates of $540.17 million. Maxim Integrated Products had a net margin of 27.36% and a return on equity of 40.16%. Maxim Integrated Products’s revenue was down 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. As a group, equities research analysts expect that Maxim Integrated Products will post 2.44 EPS for the current fiscal year.

In other Maxim Integrated Products news, VP Vivek Jain sold 14,246 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $60.58, for a total value of $863,022.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tunc Doluca sold 7,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $60.31, for a total transaction of $422,170.00. The disclosure for this sale can be found here. Insiders have sold 40,246 shares of company stock valued at $2,403,413 over the last three months. Insiders own 0.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Maxim Integrated Products during the 4th quarter valued at approximately $279,000. First Republic Investment Management Inc. lifted its position in shares of Maxim Integrated Products by 3.4% during the 1st quarter. First Republic Investment Management Inc. now owns 18,786 shares of the semiconductor company’s stock valued at $999,000 after buying an additional 615 shares in the last quarter. Cordatus Wealth Management LLC purchased a new position in shares of Maxim Integrated Products during the 1st quarter valued at approximately $940,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of Maxim Integrated Products by 78.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 302,911 shares of the semiconductor company’s stock valued at $15,403,000 after buying an additional 133,549 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Maxim Integrated Products by 2.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 40,852 shares of the semiconductor company’s stock valued at $2,171,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 93.56% 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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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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