Maxim Integrated Products (MXIM) Price Target Raised to $44.00 at Morgan Stanley

Maxim Integrated Products (NASDAQ:MXIM) had its price objective upped by research analysts at Morgan Stanley from $42.00 to $44.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price suggests a potential downside of 14.48% from the stock’s current price.

MXIM has been the subject of a number of other reports. Drexel Hamilton restated a “buy” rating and set a $52.00 target price on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Loop Capital restated a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a report on Thursday, August 31st. Wells Fargo & Company raised their target price on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Finally, KeyCorp raised their target price on shares of Maxim Integrated Products from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.24.

Shares of Maxim Integrated Products (NASDAQ MXIM) traded down $0.74 during trading hours on Wednesday, reaching $51.45. 1,578,100 shares of the company were exchanged, compared to its average volume of 2,039,335. The company has a market capitalization of $14,690.79, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. Maxim Integrated Products has a 1 year low of $38.18 and a 1 year high of $55.43. The company has a quick ratio of 13.09, a current ratio of 14.14 and a debt-to-equity ratio of 0.68.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, topping the Zacks’ 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 29.55%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. research analysts predict that Maxim Integrated Products will post 2.47 earnings per share for the current fiscal year.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 15,000 shares of Maxim Integrated Products stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.91, for a total transaction of $718,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Watkins sold 19,650 shares of Maxim Integrated Products stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $51.49, for a total transaction of $1,011,778.50. The disclosure for this sale can be found here. Insiders have sold a total of 222,617 shares of company stock valued at $11,573,687 in the last three months. Company insiders own 1.11% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Maxim Integrated Products during the 3rd quarter valued at $300,000. IFM Investors Pty Ltd bought a new position in shares of Maxim Integrated Products during the 3rd quarter valued at $408,000. Argent Capital Management LLC raised its holdings in shares of Maxim Integrated Products by 14.7% during the 3rd quarter. Argent Capital Management LLC now owns 261,500 shares of the semiconductor company’s stock valued at $12,476,000 after purchasing an additional 33,582 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Maxim Integrated Products by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 707,469 shares of the semiconductor company’s stock valued at $33,753,000 after purchasing an additional 20,569 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Maxim Integrated Products during the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 90.48% of the company’s stock.

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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.

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