Maxim Integrated Products (MXIM) Stock Rating Lowered by Goldman Sachs Group

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Maxim Integrated Products (NASDAQ:MXIM) was downgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Thursday, Marketbeat reports.

Several other analysts also recently commented on the company. Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. BidaskClub downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Morgan Stanley reduced their target price on Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 3rd. KeyCorp assumed coverage on Maxim Integrated Products in a research note on Tuesday, September 25th. They issued a “sector weight” rating and a $68.00 target price for the company. Finally, Stifel Nicolaus downgraded Maxim Integrated Products from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $65.00 in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Maxim Integrated Products presently has a consensus rating of “Hold” and a consensus target price of $61.89.

Shares of Maxim Integrated Products stock opened at $51.14 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.03 and a quick ratio of 3.67. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.48 and a beta of 1.18. Maxim Integrated Products has a 1-year low of $50.64 and a 1-year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 26th. The semiconductor company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $633.10 million during the quarter, compared to the consensus estimate of $630.39 million. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. On average, sell-side analysts forecast that Maxim Integrated Products will post 3.05 earnings per share for the current year.

In related news, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total value of $284,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $61.03, for a total transaction of $213,605.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,879 shares of company stock worth $3,553,301. 0.85% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC lifted its position in shares of Maxim Integrated Products by 279.5% during the 2nd quarter. Voya Investment Management LLC now owns 707,834 shares of the semiconductor company’s stock worth $41,521,000 after buying an additional 521,306 shares in the last quarter. Ardevora Asset Management LLP lifted its position in shares of Maxim Integrated Products by 804.5% during the 2nd quarter. Ardevora Asset Management LLP now owns 580,078 shares of the semiconductor company’s stock worth $34,027,000 after buying an additional 515,948 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Maxim Integrated Products by 25.4% during the 2nd quarter. First Trust Advisors LP now owns 2,088,408 shares of the semiconductor company’s stock worth $122,506,000 after buying an additional 422,378 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of Maxim Integrated Products during the 2nd quarter worth approximately $22,169,000. Finally, Robecosam AG lifted its position in shares of Maxim Integrated Products by 29.8% during the 2nd quarter. Robecosam AG now owns 1,350,000 shares of the semiconductor company’s stock worth $78,651,000 after buying an additional 310,000 shares in the last quarter. 90.97% of the stock is currently owned by institutional investors and hedge funds.

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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