Analysts at Zacks Investment Research downgraded shares of Maxim Integrated Products Inc. (NASDAQ: MXIM) from Hold to Sell in a research note to investors today. With a rating of Sell on the stock, the company has a 52-week high of $42.37. The one-year price target of $40.87 is above the opening price of $38.80, causing a fair amount of other analysts to report on the stock in recent days. Downgrades occur when analysts believe that the future prospects for the security have diminished from the original recommendation, usually because of an important and major digression in the company’s procedures, future vision or industry.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Maxim Integrated Products Inc. (NASDAQ: MXIM) opened at $38.80 yesterday and traded in a range between, $38.43 and $38.92, and last traded at $38.82, which represents a spike of $0.16 over the previous closing price.
Maxim Integrated Products Inc. (NASDAQ: MXIM) now has a market cap of 11.01B.
1,752,617 shares traded hands yesterday, below the average, out of a total float 261,210,000. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to pinpoint large volume accumulation or dissemination by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Maxim Integrated Products Inc. (NASDAQ: MXIM) have ranged from $30.28 – 42.37, and the stock now has a 50-day MA of $40.19 and 200-day MA of $37.60. Today’s last price is 0.08% below the 52 week high of $42.37.
Earnings growth is an important factor to consider when investing in stocks and investors identify companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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