Loop Capital reiterated their buy rating on shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in a research note issued to investors on Thursday. The firm currently has a $53.00 price target on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. B. Riley reissued a neutral rating and set a $44.00 price target on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub raised Maxim Integrated Products from a hold rating to a buy rating in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a buy rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Maxim Group began coverage on Maxim Integrated Products in a research report on Friday, June 16th. They set a market perform rating for the company. Finally, Morgan Stanley raised their price target on Maxim Integrated Products from $37.00 to $40.00 and gave the stock an underweight rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $48.06.

Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 0.88% during mid-day trading on Thursday, reaching $47.07. The company’s stock had a trading volume of 1,199,250 shares. Maxim Integrated Products has a 1-year low of $37.25 and a 1-year high of $49.70. The firm has a market capitalization of $13.28 billion, a P/E ratio of 23.77 and a beta of 1.04. The company’s 50-day moving average is $45.37 and its 200 day moving average is $45.55.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. Maxim Integrated Products’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. On average, analysts expect that Maxim Integrated Products will post $2.34 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is currently 72.36%.

Maxim Integrated Products declared that its Board of Directors has approved a share buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In related news, CEO Tunc Doluca sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $49.00, for a total value of $294,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Grady sold 30,849 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total value of $1,389,438.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,029 shares of company stock worth $6,637,899. 1.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Maxim Integrated Products by 13.4% in the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after buying an additional 2,358,743 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Maxim Integrated Products by 33.7% in the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock valued at $525,738,000 after buying an additional 2,948,722 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Maxim Integrated Products by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 10,593,454 shares of the semiconductor company’s stock valued at $475,645,000 after buying an additional 167,748 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Maxim Integrated Products by 1.0% in the second quarter. Wells Fargo & Company MN now owns 6,521,747 shares of the semiconductor company’s stock valued at $292,827,000 after buying an additional 63,877 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Maxim Integrated Products by 0.5% in the second quarter. State Street Corp now owns 6,384,084 shares of the semiconductor company’s stock valued at $286,644,000 after buying an additional 28,762 shares in the last quarter. Institutional investors and hedge funds own 90.13% 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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