According to Zacks, “Maxim is suffering from sluggish bookings and weakening momentum across its customers. These are affecting the company’s position in the industrial market. Further, it is experiencing seasonal fluctuations in the consumer market which remains an overhang. Also, slowing shipment of 100G optical module is likely to impact the company’s performance in data center market. Notably, the stock has underperformed the industry it belongs to over a year. The company has mixed record of earnings surprises in recent quarters. Nevertheless, Maxim’s solid momentum across the automotive market remains a major positive. Further, the company remains optimistic about its flexible manufacturing strategy which is expected to aid margin expansion. However, Maxim's high dependence on Samsung is a risk to its growth trajectory.”
A number of other analysts also recently issued reports on MXIM. Morgan Stanley dropped their target price on shares of Maxim Integrated Products from $54.00 to $53.00 and set an equal weight rating for the company in a research report on Wednesday, December 19th. Bank of America downgraded shares of Maxim Integrated Products from a buy rating to a neutral rating in a research report on Friday, January 4th. Evercore ISI dropped their target price on shares of Maxim Integrated Products from $60.00 to $55.00 in a research report on Monday, January 14th. BidaskClub raised shares of Maxim Integrated Products from a hold rating to a buy rating in a research report on Tuesday, January 29th. Finally, Maxim Group reissued a hold rating on shares of Maxim Integrated Products in a research report on Wednesday, January 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Maxim Integrated Products has an average rating of Hold and a consensus target price of $59.67.
Shares of MXIM stock opened at $59.89 on Tuesday. The stock has a market cap of $16.14 billion, a PE ratio of 22.10, a P/E/G ratio of 2.07 and a beta of 1.31. Maxim Integrated Products has a 1-year low of $46.64 and a 1-year high of $63.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.85 and a current ratio of 6.54.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The company had revenue of $576.91 million for the quarter, compared to analysts’ expectations of $590.50 million. Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. Analysts forecast that Maxim Integrated Products will post 2.44 earnings per share for the current fiscal year.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 2,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $54.96, for a total value of $137,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph R. Bronson sold 5,000 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $54.67, for a total transaction of $273,350.00. The disclosure for this sale can be found here. Insiders sold 61,316 shares of company stock valued at $3,395,474 in the last ninety days. 0.85% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. IMS Capital Management acquired a new stake in Maxim Integrated Products in the third quarter valued at approximately $28,000. CWM LLC grew its position in Maxim Integrated Products by 78.0% in the fourth quarter. CWM LLC now owns 598 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 262 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in Maxim Integrated Products by 311.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 766 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 580 shares in the last quarter. Sun Life Financial INC acquired a new stake in Maxim Integrated Products in the fourth quarter valued at approximately $39,000. Finally, Guardian Life Insurance Co. of America acquired a new stake in Maxim Integrated Products in the fourth quarter valued at approximately $40,000. 98.56% of the stock is owned by institutional investors.
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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