According to Zacks, “Maxim is an OEM of analog and mixed signal ICs. The fiscal fourth-quarter earnings of the company were a penny above the Zacks Consensus Estimate. Maxim has a solid portfolio that generates steady design wins, a highly profitable and well-diversified core business, a policy of maintaining efficiency that has led to cost cutting measures and regular cash returns. However, its exposure to the consumer and communications markets increases risks. The concentration of its mobility revenues at Samsung further adds to the risks. This could, however, be mitigated once the diversification strategy takes off.”
A number of other research firms also recently commented on MXIM. Maxim Group initiated coverage on shares of Maxim Integrated Products in a research report on Tuesday, September 20th. They issued a positive rating and a $50.00 target price on the stock. MKM Partners increased their target price on shares of Maxim Integrated Products from $38.00 to $40.00 and gave the company a neutral rating in a research report on Friday, July 22nd. RBC Capital Markets reiterated a sector perform rating and set a $40.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Pacific Crest reiterated an overweight rating on shares of Maxim Integrated Products in a research note on Thursday, September 15th. Finally, Bank of America Corp. cut shares of Maxim Integrated Products from a buy rating to a neutral rating and decreased their price target for the stock from $41.00 to $39.00 in a research note on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Maxim Integrated Products has a consensus rating of Hold and a consensus price target of $41.10.
Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at 38.65 on Wednesday. The stock has a market cap of $10.96 billion, a PE ratio of 48.92 and a beta of 1.02. Maxim Integrated Products has a 1-year low of $30.28 and a 1-year high of $42.37. The stock’s 50 day moving average is $40.04 and its 200-day moving average is $37.74.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 21st. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The firm had revenue of $566 million for the quarter, compared to the consensus estimate of $575.46 million. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. On average, analysts predict that Maxim Integrated Products will post $1.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.42%. Maxim Integrated Products’s payout ratio is 169.23%.
In related news, Director A R. Frank Wazzan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $40.77, for a total value of $40,770.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tunc Doluca sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $40.86, for a total transaction of $919,350.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MXIM. Nomura Asset Management Co. Ltd. boosted its stake in Maxim Integrated Products by 6.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 37,370 shares of the company’s stock valued at $1,420,000 after buying an additional 2,390 shares in the last quarter. Norges Bank bought a new stake in Maxim Integrated Products during the fourth quarter valued at about $112,624,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Maxim Integrated Products by 10.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 87,904 shares of the company’s stock valued at $3,233,000 after buying an additional 7,972 shares in the last quarter. Aperio Group LLC boosted its stake in Maxim Integrated Products by 14.0% in the first quarter. Aperio Group LLC now owns 54,917 shares of the company’s stock valued at $2,020,000 after buying an additional 6,759 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in Maxim Integrated Products during the first quarter valued at about $883,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.
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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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