Loop Capital restated their buy rating on shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in a research report report published on Friday morning. They currently have a $57.00 price objective on the semiconductor company’s stock, up from their prior price objective of $53.00.

MXIM has been the subject of a number of other research reports. Drexel Hamilton reaffirmed a buy rating and set a $52.00 price target on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed an underweight rating and set a $40.00 price target on shares of Maxim Integrated Products in a research report on Wednesday, September 20th. Maxim Group reaffirmed a buy rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Barclays PLC lifted their price target on Maxim Integrated Products from $46.00 to $50.00 and gave the stock an equal weight rating in a research report on Wednesday. Finally, B. Riley reaffirmed a hold rating and set a $47.00 price target on shares of Maxim Integrated Products in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $51.55.

Shares of Maxim Integrated Products (NASDAQ MXIM) traded up 3.99% on Friday, hitting $52.09. The stock had a trading volume of 4,541,274 shares. Maxim Integrated Products has a 12 month low of $37.32 and a 12 month high of $53.10. The company’s 50 day moving average price is $47.85 and its 200-day moving average price is $46.26. The company has a market cap of $14.69 billion, a P/E ratio of 26.31 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts expect that Maxim Integrated Products will post $2.35 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, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 70.24%.

Maxim Integrated Products declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In related news, CEO Tunc Doluca sold 12,000 shares of Maxim Integrated Products stock in a transaction dated Tuesday, August 1st. The stock was 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce E. Kiddoo sold 25,000 shares of Maxim Integrated Products stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $45.28, for a total value of $1,132,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 136,443 shares of company stock valued at $6,266,251. Insiders own 1.11% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in shares of 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 valued at $106,000 after purchasing an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 valued at $106,000 after purchasing an additional 343 shares in the last quarter. Highstreet Asset Management Inc. purchased a new position in shares of Maxim Integrated Products in the 2nd quarter valued at about $115,000. Acrospire Investment Management LLC increased its stake in shares of 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 valued at $126,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Duncker Streett & Co. Inc. increased its stake in shares of 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 valued at $129,000 after purchasing 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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