Maxim Integrated Products (NASDAQ:MXIM) Downgraded to Underweight at Barclays

Barclays downgraded shares of Maxim Integrated Products (NASDAQ:MXIM) from an equal weight rating to an underweight rating in a research note released on Thursday, BenzingaRatingsTable reports. They currently have $60.00 price target on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on MXIM. Maxim Group lowered shares of Maxim Integrated Products from a neutral rating to an underperform rating in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on shares of Maxim Integrated Products from $69.00 to $72.00 in a report on Wednesday, October 30th. Cowen lifted their price target on shares of Maxim Integrated Products from $57.00 to $62.00 and gave the company a market perform rating in a report on Wednesday, October 30th. ValuEngine lowered shares of Maxim Integrated Products from a buy rating to a hold rating in a report on Tuesday, December 24th. Finally, BidaskClub lowered shares of Maxim Integrated Products from a buy rating to a hold rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $63.82.

Shares of Maxim Integrated Products stock traded down $0.59 during midday trading on Thursday, hitting $61.37. 2,462,971 shares of the company traded hands, compared to its average volume of 1,877,567. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.41 and a beta of 1.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.39 and a current ratio of 7.08. The firm’s fifty day moving average price is $60.11 and its 200-day moving average price is $58.42. Maxim Integrated Products has a 12 month low of $51.26 and a 12 month high of $65.73.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $553.00 million for the quarter, compared to analyst estimates of $530.99 million. Maxim Integrated Products had a net margin of 34.87% and a return on equity of 34.55%. The firm’s revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. Equities research analysts forecast that Maxim Integrated Products will post 2.22 earnings per share for the current year.

In other Maxim Integrated Products news, VP Jon Imperato sold 2,204 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $55.29, for a total transaction of $121,859.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Ann Wright sold 1,345 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $61.65, for a total transaction of $82,919.25. The disclosure for this sale can be found here. Insiders have sold a total of 71,549 shares of company stock worth $4,294,898 over the last three months. Insiders own 0.84% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. FTB Advisors Inc. bought a new stake in Maxim Integrated Products during the 3rd quarter worth approximately $29,000. Synovus Financial Corp lifted its position in shares of Maxim Integrated Products by 60.3% in the 3rd quarter. Synovus Financial Corp now owns 625 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 235 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of Maxim Integrated Products by 58.8% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 670 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 248 shares during the period. Anderson Fisher LLC lifted its position in shares of Maxim Integrated Products by 551.2% in the 2nd quarter. Anderson Fisher LLC now owns 788 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 667 shares during the period. Finally, CSat Investment Advisory L.P. lifted its position in shares of Maxim Integrated Products by 106.2% in the 2nd quarter. CSat Investment Advisory L.P. now owns 796 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 410 shares during the period. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

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Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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