Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price target increased by Morgan Stanley from $40.00 to $42.00 in a report issued on Friday morning. The brokerage currently has an underweight rating on the semiconductor company’s stock.

MXIM has been the subject of a number of other research reports. Jefferies Group LLC reissued a buy rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. B. Riley reissued a hold rating and issued a $47.00 target price on shares of Maxim Integrated Products in a research report on Monday, October 16th. BidaskClub raised shares of Maxim Integrated Products from a hold rating to a buy rating in a research report on Wednesday, July 12th. Loop Capital reissued a buy rating and issued a $53.00 target price on shares of Maxim Integrated Products in a research report on Thursday, August 31st. Finally, Barclays PLC boosted their target price on shares of Maxim Integrated Products from $46.00 to $50.00 and gave the company an equal weight rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $51.55.

Shares of Maxim Integrated Products (NASDAQ MXIM) traded up 3.99% during mid-day trading on Friday, hitting $52.09. 4,541,274 shares of the stock were exchanged. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 26.31 and a beta of 1.05. The company’s 50-day moving average is $47.85 and its 200-day moving average is $46.26. Maxim Integrated Products has a 1-year low of $37.32 and a 1-year high of $53.10.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.64%. Maxim Integrated Products’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. Equities research analysts anticipate that Maxim Integrated Products will post $2.35 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 70.24%.

Maxim Integrated Products declared that its board has approved a share repurchase program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

In other news, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.50, for a total value of $166,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tunc Doluca sold 15,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.91, for a total transaction of $718,650.00. The disclosure for this sale can be found here. Insiders sold 136,443 shares of company stock valued at $6,266,251 in the last three months. Company insiders own 1.11% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Maxim Integrated Products by 13.4% in the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock worth $895,388,000 after acquiring an additional 2,358,743 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Maxim Integrated Products by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 10,593,454 shares of the semiconductor company’s stock worth $475,645,000 after acquiring an additional 167,748 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Maxim Integrated Products by 1.0% in the second quarter. Wells Fargo & Company MN now owns 6,521,747 shares of the semiconductor company’s stock worth $292,827,000 after acquiring an additional 63,877 shares during the last quarter. State Street Corp lifted its holdings in shares of Maxim Integrated Products by 0.5% in the second quarter. State Street Corp now owns 6,384,084 shares of the semiconductor company’s stock worth $286,644,000 after acquiring an additional 28,762 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Maxim Integrated Products by 29.8% in the second quarter. Goldman Sachs Group Inc. now owns 3,770,400 shares of the semiconductor company’s stock worth $169,291,000 after acquiring an additional 866,278 shares during the last quarter. 89.49% of the stock is owned by hedge funds and other institutional investors.

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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