Maxim Integrated Products, Inc. (MXIM) Price Target Raised to $40.00 at Morgan Stanley

Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its price objective hoisted by stock analysts at Morgan Stanley from $37.00 to $40.00 in a research report issued to clients and investors on Monday. The firm currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target suggests a potential downside of 14.78% from the stock’s previous close.

A number of other research firms have also recently weighed in on MXIM. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. BidaskClub cut shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, April 21st. Loop Capital reaffirmed a “buy” rating and set a $51.00 target price (up previously from $50.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 target price (up previously from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $47.00.

Maxim Integrated Products (NASDAQ:MXIM) traded down 0.34% on Monday, reaching $46.94. The company had a trading volume of 1,562,497 shares. The company has a 50-day moving average of $46.83 and a 200 day moving average of $44.29. Maxim Integrated Products has a one year low of $37.25 and a one year high of $49.70. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 26.98 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. The company had revenue of $581 million during the quarter, compared to analysts’ expectations of $575.83 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Maxim Integrated Products will post $2.12 EPS for the current year.

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In other Maxim Integrated Products news, Director Joseph R. Bronson sold 18,300 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $45.08, for a total value of $824,964.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $45.69, for a total transaction of $159,915.00. The disclosure for this sale can be found here. Insiders sold a total of 241,548 shares of company stock worth $11,148,556 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of MXIM. Oregon Public Employees Retirement Fund bought a new stake in Maxim Integrated Products during the second quarter valued at $1,827,000. Eqis Capital Management Inc. boosted its stake in Maxim Integrated Products by 25.3% in the second quarter. Eqis Capital Management Inc. now owns 32,290 shares of the semiconductor company’s stock valued at $1,450,000 after buying an additional 6,518 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in Maxim Integrated Products by 507.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,910 shares of the semiconductor company’s stock valued at $2,061,000 after buying an additional 38,355 shares during the period. Meeder Asset Management Inc. boosted its stake in Maxim Integrated Products by 56.3% in the second quarter. Meeder Asset Management Inc. now owns 25,572 shares of the semiconductor company’s stock valued at $1,148,000 after buying an additional 9,212 shares during the period. Finally, Hallmark Capital Management Inc. bought a new stake in Maxim Integrated Products during the second quarter valued at $1,460,000. Hedge funds and other institutional investors own 89.40% of the company’s stock.

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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