Goldman Sachs Group lowered shares of Maxim Integrated Products (NASDAQ:MXIM) from a neutral rating to a sell rating in a report issued on Thursday morning, MarketBeat Ratings reports.

Several other analysts also recently issued reports on the company. Stifel Nicolaus downgraded Maxim Integrated Products from a buy rating to a hold rating and dropped their price target for the company from $75.00 to $65.00 in a research note on Wednesday, September 12th. Zacks Investment Research downgraded Maxim Integrated Products from a hold rating to a sell rating in a research note on Wednesday, October 10th. ValuEngine downgraded Maxim Integrated Products from a buy rating to a hold rating in a research note on Friday, September 7th. Morgan Stanley dropped their price target on Maxim Integrated Products from $60.00 to $59.00 and set an equal weight rating on the stock in a research note on Wednesday, October 3rd. Finally, KeyCorp initiated coverage on Maxim Integrated Products in a research note on Tuesday, September 25th. They issued a sector weight rating and a $68.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Maxim Integrated Products presently has a consensus rating of Hold and an average price target of $63.67.

Shares of MXIM traded down $0.22 during midday trading on Thursday, hitting $51.14. The stock had a trading volume of 2,845,032 shares, compared to its average volume of 2,458,224. Maxim Integrated Products has a twelve month low of $50.64 and a twelve month high of $74.94. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.03 and a quick ratio of 3.67.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The firm had revenue of $633.10 million for the quarter, compared to the consensus estimate of $630.39 million. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Maxim Integrated Products will post 3.03 earnings per share for the current fiscal year.

In related news, CEO Tunc Doluca sold 5,000 shares of Maxim Integrated Products stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Vivek Jain sold 10,474 shares of Maxim Integrated Products stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $61.87, for a total value of $648,026.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,879 shares of company stock worth $3,553,301. 0.85% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC grew its holdings in Maxim Integrated Products by 20.8% during the second quarter. Krane Funds Advisors LLC now owns 10,882 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 1,876 shares during the period. Kiwi Wealth Investments Limited Partnership bought a new position in Maxim Integrated Products during the second quarter worth about $5,876,000. Tower Research Capital LLC TRC bought a new position in Maxim Integrated Products during the second quarter worth about $578,000. Argent Trust Co grew its holdings in Maxim Integrated Products by 27.3% during the second quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 1,019 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Maxim Integrated Products by 1.4% during the second quarter. Van ECK Associates Corp now owns 696,612 shares of the semiconductor company’s stock worth $40,863,000 after purchasing an additional 9,596 shares during the period. 90.97% of the stock is currently owned by institutional investors and hedge funds.

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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