SunTrust Banks Cuts Maxim Integrated Products (MXIM) Price Target to $51.00

Maxim Integrated Products (NASDAQ:MXIM) had its price objective decreased by SunTrust Banks to $51.00 in a report issued on Wednesday, The Fly reports. SunTrust Banks currently has a hold rating on the semiconductor company’s stock. SunTrust Banks also issued estimates for Maxim Integrated Products’ Q2 2019 earnings at $0.62 EPS, Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.73 EPS, FY2019 earnings at $2.77 EPS, Q1 2020 earnings at $0.74 EPS and Q2 2020 earnings at $0.70 EPS.

Other research analysts have also issued reports about the company. BidaskClub upgraded Maxim Integrated Products from a hold rating to a buy rating in a research report on Friday, August 10th. Stifel Nicolaus raised their price target on Maxim Integrated Products from $73.00 to $75.00 and gave the stock a buy rating in a research report on Friday, July 27th. Deutsche Bank reduced their price target on Maxim Integrated Products from $63.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday. Loop Capital reduced their price target on Maxim Integrated Products to $59.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced 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 report on Wednesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Maxim Integrated Products has a consensus rating of Hold and an average price target of $60.76.

NASDAQ:MXIM opened at $51.91 on Wednesday. Maxim Integrated Products has a 12-month low of $46.85 and a 12-month high of $74.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.67 and a current ratio of 4.03. The firm has a market capitalization of $14.41 billion, a PE ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 1.28.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Maxim Integrated Products had a return on equity of 41.60% and a net margin of 20.06%. The business had revenue of $638.50 million for the quarter, compared to analyst estimates of $635.19 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. Analysts forecast that Maxim Integrated Products will post 2.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 annualized dividend and a yield of 3.54%. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.

In other Maxim Integrated Products 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 accessible through this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of Maxim Integrated Products stock in a transaction dated Tuesday, August 7th. The shares were 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. Over the last quarter, insiders have sold 54,379 shares of company stock worth $3,339,696. Corporate insiders own 0.85% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd raised its stake in shares of Maxim Integrated Products by 90.4% in the 3rd quarter. WINTON GROUP Ltd now owns 13,558 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 6,437 shares during the period. Cadence Capital Management LLC raised its stake in shares of Maxim Integrated Products by 97.1% in the 3rd quarter. Cadence Capital Management LLC now owns 50,642 shares of the semiconductor company’s stock valued at $2,856,000 after purchasing an additional 24,943 shares during the period. Markel Corp raised its stake in shares of Maxim Integrated Products by 4.1% in the 3rd quarter. Markel Corp now owns 251,000 shares of the semiconductor company’s stock valued at $14,154,000 after purchasing an additional 10,000 shares during the period. WESPAC Advisors LLC acquired a new stake in shares of Maxim Integrated Products in the 3rd quarter valued at about $1,648,000. Finally, Commerce Bank raised its stake in shares of Maxim Integrated Products by 64.4% in the 3rd quarter. Commerce Bank now owns 10,888 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 4,265 shares during the period. 90.87% of the stock is currently owned by hedge funds and other institutional investors.

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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