Maxim Integrated Products Given New $39.00 Price Target at Jefferies Group (MXIM)

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Equities researchers at Jefferies Group raised their price objective on shares of Maxim Integrated Products (NASDAQ:MXIM) from $35.00 to $39.00 in a research report issued on Wednesday, StockRatingsNetwork reports. Jefferies Group’s price objective points to a potential upside of 16.35% from the company’s current price.

In other Maxim Integrated Products news, CEO Tunc Doluca unloaded 6,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $33.13, for a total value of $198,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Maxim Integrated Products from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 27th. They now have a $34.00 price target on the stock. Separately, analysts at Drexel Hamilton upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. They now have a $38.00 price target on the stock. Finally, analysts at Raymond James upgraded shares of Maxim Integrated Products from an “outperform” rating to a “strong-buy” rating in a research note on Monday, February 10th. They now have a $37.00 price target on the stock, up previously from $33.00. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.53.

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 0.33% on Wednesday, hitting $33.63. The stock had a trading volume of 282,642 shares. Maxim Integrated Products has a 52-week low of $26.49 and a 52-week high of $33.74. The stock has a 50-day moving average of $32.19 and a 200-day moving average of $29.85. The company has a market cap of $9.486 billion and a P/E ratio of 24.76. Maxim Integrated Products also saw unusually large options trading on Wednesday. Investors purchased 10,359 put options on the stock. This represents an increase of 859% compared to the average daily volume of 1,080 put options.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.03. The company had revenue of $620.00 million for the quarter, compared to the consensus estimate of $620.31 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Maxim Integrated Products will post $1.63 earnings per share for the current fiscal year.

Maxim Integrated Products, Inc (NASDAQ:MXIM) designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a number of customers in diverse geographical locations.

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