Maxim Integrated Products (MXIM) Lowered to “Hold” at ValuEngine
ValuEngine cut shares of Maxim Integrated Products (NASDAQ:MXIM) from a buy rating to a hold rating in a research report report published on Wednesday.
A number of other equities research analysts have also recently weighed in on MXIM. Macquarie cut shares of Maxim Integrated Products from an outperform rating to a neutral rating and lifted their price objective for the company from $62.00 to $64.00 in a research note on Wednesday, February 28th. B. Riley restated a hold rating and set a $54.00 price objective on shares of Maxim Integrated Products in a research note on Friday, January 26th. SunTrust Banks restated a hold rating and set a $63.00 price objective on shares of Maxim Integrated Products in a research note on Friday, January 26th. Oppenheimer restated a hold rating on shares of Maxim Integrated Products in a research note on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Maxim Integrated Products from a sell rating to a hold rating in a research note on Monday, January 29th. Seventeen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $54.86.
Maxim Integrated Products (MXIM) traded up $1.28 during mid-day trading on Wednesday, reaching $63.46. The company’s stock had a trading volume of 1,578,426 shares, compared to its average volume of 3,180,000. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.48 and a quick ratio of 4.14. The company has a market capitalization of $13,850.00, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.34 and a beta of 1.14. Maxim Integrated Products has a 12 month low of $43.35 and a 12 month high of $74.94.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.42 per share. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.36. This represents a $1.68 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Wednesday, February 28th. Maxim Integrated Products’s payout ratio is presently 75.68%.
In related news, Director James R. Bergman sold 30,300 shares of Maxim Integrated Products stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.40, for a total transaction of $1,890,720.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Ann Wright sold 440 shares of Maxim Integrated Products stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $60.72, for a total value of $26,716.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,630 shares of company stock worth $14,516,267. 1.11% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its holdings in Maxim Integrated Products by 61,527.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 56,081 shares of the semiconductor company’s stock worth $957,000 after acquiring an additional 55,990 shares during the period. Envestnet Asset Management Inc. increased its stake in Maxim Integrated Products by 37.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 9,620 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 2,646 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Maxim Integrated Products by 16.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 113,796 shares of the semiconductor company’s stock worth $5,949,000 after purchasing an additional 15,933 shares in the last quarter. SWS Partners purchased a new position in Maxim Integrated Products in the 4th quarter worth about $1,558,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Maxim Integrated Products in the 4th quarter worth about $2,149,000.
COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2018/03/11/maxim-integrated-products-mxim-lowered-to-hold-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.