Investment analysts at Maxim Group assumed coverage on shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in a report issued on Tuesday. The brokerage set a “positive” rating and a $50.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 28.80% from the company’s previous close.

Several other brokerages have also recently commented on MXIM. RBC Capital Markets restated an “outperform” rating and set a $40.00 price objective on shares of Maxim Integrated Products in a research note on Monday, August 15th. Barclays PLC lifted their price objective on shares of Maxim Integrated Products from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 31st. Royal Bank Of Canada cut shares of Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, September 7th. Jefferies Group restated a “buy” rating and set a $42.00 price objective (up from $41.00) on shares of Maxim Integrated Products in a research note on Tuesday, July 26th. Finally, Susquehanna began coverage on shares of Maxim Integrated Products in a research note on Tuesday. They set a “positive” rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $40.14.

Maxim Integrated Products (NASDAQ:MXIM) opened at 38.82 on Tuesday. Maxim Integrated Products has a 12 month low of $30.28 and a 12 month high of $42.37. The company’s 50 day moving average is $40.19 and its 200-day moving average is $37.60. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 49.14 and a beta of 1.02.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. The business earned $566 million during the quarter, compared to analysts’ expectations of $575.46 million. On average, analysts expect that Maxim Integrated Products will post $1.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a $0.33 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 3.40%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.30. Maxim Integrated Products’s dividend payout ratio is presently 169.23%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $42.00, for a total value of $252,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $41.43, for a total transaction of $1,035,750.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MXIM. Gulf International Bank UK Ltd boosted its position in Maxim Integrated Products by 5.1% in the second quarter. Gulf International Bank UK Ltd now owns 82,384 shares of the company’s stock worth $2,940,000 after buying an additional 4,000 shares during the last quarter. National Pension Service boosted its position in Maxim Integrated Products by 4.6% in the first quarter. National Pension Service now owns 207,359 shares of the company’s stock worth $7,627,000 after buying an additional 9,056 shares during the last quarter. OLD National Bancorp IN boosted its position in Maxim Integrated Products by 67.6% in the first quarter. OLD National Bancorp IN now owns 26,025 shares of the company’s stock worth $957,000 after buying an additional 10,494 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its position in Maxim Integrated Products by 1,822.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 30,641 shares of the company’s stock worth $1,094,000 after buying an additional 29,047 shares during the last quarter. Finally, Moore Capital Management LP acquired a new stake in shares of Maxim Integrated Products during the first quarter worth about $3,678,000. 90.28% of the stock is currently owned by institutional investors.

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’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.

5 Day Chart for NASDAQ:MXIM

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