Maxim Integrated Products (NASDAQ:MXIM) had its price target trimmed by Deutsche Bank from $63.00 to $60.00 in a research report sent to investors on Wednesday. The firm currently has a buy rating on the semiconductor company’s stock.
Other analysts have also issued research reports about the company. BidaskClub upgraded Maxim Integrated Products from a hold rating to a buy rating in a report on Friday, August 10th. Stifel Nicolaus upped their target price on Maxim Integrated Products from $73.00 to $75.00 and gave the stock a buy rating in a report on Friday, July 27th. Morgan Stanley lowered their target price on Maxim Integrated Products from $60.00 to $59.00 and set an equal weight rating for the company in a report on Wednesday, October 3rd. Barclays lowered their target price on Maxim Integrated Products from $60.00 to $55.00 and set an equal weight rating for the company in a report on Tuesday, October 23rd. Finally, ValuEngine lowered Maxim Integrated Products from a buy rating to a hold rating in a report on Friday, September 7th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $60.76.
Maxim Integrated Products stock traded down $1.21 during mid-day trading on Wednesday, reaching $51.91. 4,175,894 shares of the company were exchanged, compared to its average volume of 3,358,878. Maxim Integrated Products has a 12-month low of $46.85 and a 12-month high of $74.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date is Wednesday, November 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.54%.
In other news, Director Mary Ann Wright sold 440 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $60.43, for a total transaction of $26,589.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $63.00, for a total value of $1,575,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,379 shares of company stock valued at $3,339,696. Company insiders own 0.85% of the company’s stock.
A number of hedge funds have recently modified their holdings of MXIM. Voya Investment Management LLC raised its stake in Maxim Integrated Products by 279.5% in the 2nd quarter. Voya Investment Management LLC now owns 707,834 shares of the semiconductor company’s stock worth $41,521,000 after acquiring an additional 521,306 shares during the last quarter. Ardevora Asset Management LLP raised its stake in Maxim Integrated Products by 804.5% in the 2nd quarter. Ardevora Asset Management LLP now owns 580,078 shares of the semiconductor company’s stock worth $34,027,000 after acquiring an additional 515,948 shares during the last quarter. First Trust Advisors LP raised its stake in Maxim Integrated Products by 25.4% in the 2nd quarter. First Trust Advisors LP now owns 2,088,408 shares of the semiconductor company’s stock worth $122,506,000 after acquiring an additional 422,378 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new position in Maxim Integrated Products in the 2nd quarter worth $22,169,000. Finally, Robecosam AG raised its stake in Maxim Integrated Products by 29.8% in the 2nd quarter. Robecosam AG now owns 1,350,000 shares of the semiconductor company’s stock worth $78,651,000 after acquiring an additional 310,000 shares during the last quarter. Institutional investors own 90.87% of the company’s stock.
About Maxim Integrated Products
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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