Maxim Integrated Products, Inc. (NASDAQ:MXIM) had its target price hoisted by Stifel Nicolaus from $54.00 to $57.00 in a report released on Friday. The firm currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on the stock. Loop Capital reissued a buy rating and set a $43.00 price objective on shares of Maxim Integrated Products in a research note on Tuesday, August 22nd. Maxim Group reissued a buy rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Drexel Hamilton reissued a buy rating and set a $52.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Morgan Stanley boosted their price objective on shares of Maxim Integrated Products from $37.00 to $40.00 and gave the company an underweight rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reissued a buy rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $51.55.

Maxim Integrated Products (NASDAQ:MXIM) traded up 3.99% on Friday, reaching $52.09. The company had a trading volume of 4,541,274 shares. The stock has a 50 day moving average price of $47.85 and a 200 day moving average price of $46.26. The stock has a market capitalization of $14.69 billion, a PE ratio of 26.31 and a beta of 1.05. Maxim Integrated Products has a 52-week low of $37.32 and a 52-week high of $53.10.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.64%. Maxim Integrated Products’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. Analysts expect that Maxim Integrated Products will post $2.35 EPS for the current year.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. Maxim Integrated Products’s payout ratio is 70.24%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $45.60, for a total value of $547,200.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher J. Neil sold 3,500 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $47.50, for a total transaction of $166,250.00. The disclosure for this sale can be found here. Insiders sold a total of 136,443 shares of company stock worth $6,266,251 in the last quarter. 1.11% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of MXIM. Proficio Capital Partners LLC lifted its holdings in Maxim Integrated Products by 51.4% in the 1st quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after buying an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Maxim Integrated Products by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares in the last quarter. Highstreet Asset Management Inc. acquired a new position in Maxim Integrated Products in the 2nd quarter worth $115,000. Acrospire Investment Management LLC lifted its holdings in Maxim Integrated Products by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,600 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in Maxim Integrated Products by 21.1% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.

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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Analyst Recommendations for Maxim Integrated Products (NASDAQ:MXIM)

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