Maxim Group reissued their buy rating on shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in a research note released on Wednesday morning.

Several other equities analysts also recently commented on MXIM. B. Riley restated a neutral rating and issued a $44.00 price objective on shares of Maxim Integrated Products in a research report on Monday, July 17th. Zacks Investment Research downgraded Maxim Integrated Products from a buy rating to a hold rating in a research report on Monday, May 29th. Loop Capital restated a buy rating and issued a $53.00 price objective on shares of Maxim Integrated Products in a research report on Thursday, August 31st. BidaskClub upgraded Maxim Integrated Products from a buy rating to a strong-buy rating in a research report on Saturday, June 10th. Finally, Raymond James Financial, Inc. restated a mkt perform rating on shares of Maxim Integrated Products in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Maxim Integrated Products currently has a consensus rating of Hold and an average price target of $48.06.

Maxim Integrated Products (NASDAQ:MXIM) traded down 0.54% during mid-day trading on Wednesday, hitting $46.31. The company’s stock had a trading volume of 616,083 shares. The stock has a market cap of $13.06 billion, a P/E ratio of 23.39 and a beta of 1.04. The company’s 50 day moving average is $45.31 and its 200-day moving average is $45.60. Maxim Integrated Products has a 52-week low of $37.25 and a 52-week high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The business had revenue of $602 million for the quarter, compared to the consensus estimate of $609.52 million. During the same period in the previous year, the business earned $0.49 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that Maxim Integrated Products will post $2.34 EPS for the current fiscal year.

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Maxim Integrated Products announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.09%. Maxim Integrated Products’s dividend payout ratio is 72.36%.

In other Maxim Integrated Products news, insider Bryan Preeshl sold 1,234 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $45.71, for a total transaction of $56,406.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $46.88, for a total value of $984,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,529 shares of company stock worth $7,492,039. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of MXIM. Proficio Capital Partners LLC raised its position in Maxim Integrated Products by 51.4% during the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 764 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Maxim Integrated Products by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 343 shares during the period. Highstreet Asset Management Inc. purchased a new stake in Maxim Integrated Products during the second quarter valued at approximately $115,000. Acrospire Investment Management LLC raised its position in Maxim Integrated Products by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares during the period. Finally, TrimTabs Asset Management LLC raised its position in Maxim Integrated Products by 89.0% during the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock valued at $128,000 after purchasing an additional 1,344 shares during the period. Institutional investors and hedge funds own 90.14% of the company’s stock.

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.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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