Equities research analysts at Needham & Company dropped their price target on shares of Maxim Integrated Products (NASDAQ:MXIM) from $36.00 to $34.00 in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target would indicate a potential upside of 12.96% from the company’s current price.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 3.61% during mid-day trading on Friday, hitting $30.10. 8,324,015 shares of the company’s stock traded hands. Maxim Integrated Products has a 52-week low of $25.54 and a 52-week high of $33.67. The stock has a 50-day moving average of $28.34 and a 200-day moving average of $29.7. The company has a market cap of $8.575 billion and a price-to-earnings ratio of 19.12.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, October 24th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $585.20 million for the quarter, compared to the consensus estimate of $584.84 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, November 19th.
A number of other analysts have also recently weighed in on MXIM. Analysts at Jefferies Group raised their price target on shares of Maxim Integrated Products from $36.00 to $37.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Maxim Integrated Products from $32.00 to $34.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of Maxim Integrated Products from $28.00 to $33.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $32.10.
Maxim Integrated Products, Inc (NASDAQ:MXIM), designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a large number of customers in diverse geographical locations.
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