Drexel Hamilton reiterated their buy rating on shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in a research note issued to investors on Wednesday morning. The brokerage currently has a $52.00 price objective on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Maxim Integrated Products from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a buy rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a buy rating and set a $54.00 price target (up previously from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a hold rating to a buy rating and set a $55.00 price target for the company in a research report on Friday, June 9th. Finally, Loop Capital reiterated a buy rating and set a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $48.06.

Shares of Maxim Integrated Products (MXIM) opened at 45.87 on Wednesday. The company’s 50-day moving average is $45.23 and its 200 day moving average is $45.61. Maxim Integrated Products has a 1-year low of $37.25 and a 1-year high of $49.70. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 23.17 and a beta of 1.04.

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

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is presently 72.36%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 12,000 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $44.72, for a total value of $536,640.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of Maxim Integrated Products stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.67, for a total transaction of $159,845.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,883 shares of company stock worth $6,051,983. Insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its position in shares of Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after purchasing an additional 343 shares in the last quarter. Highstreet Asset Management Inc. bought a new stake in shares of Maxim Integrated Products in the second quarter worth $115,000. Acrospire Investment Management LLC lifted its position in shares of Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 1,600 shares in the last quarter. Finally, TrimTabs Asset Management LLC lifted its position in shares of Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 1,344 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

Maxim Integrated Products Company Profile

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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