Maxim Integrated Products (NASDAQ:MXIM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “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. Notably, the stock has outperformed the industry it belongs to over a year. However, Maxim's high dependence on Samsung is a risk to its growth trajectory. Also, the company 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.”

A number of other analysts also recently issued reports on MXIM. Goldman Sachs Group downgraded Maxim Integrated Products from a “neutral” rating to a “sell” rating in a research note on Thursday, October 18th. BidaskClub upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Friday, November 23rd. Barclays dropped 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. Citigroup dropped their target price on Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Finally, Morgan Stanley dropped their target price on Maxim Integrated Products from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, December 19th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company’s stock. Maxim Integrated Products has a consensus rating of “Hold” and a consensus target price of $60.71.

MXIM traded up $1.14 on Thursday, hitting $52.86. 2,138,120 shares of the company’s stock traded hands, compared to its average volume of 2,746,975. The company has a market capitalization of $14.18 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31. Maxim Integrated Products has a one year low of $46.64 and a one year high of $74.94. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.75. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. The business had revenue of $638.50 million for the quarter, compared to the consensus estimate of $635.19 million. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict that Maxim Integrated Products will post 2.69 earnings per share for the current year.

In related news, VP Sumeet Gagneja sold 517 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $56.72, for a total transaction of $29,324.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bryan Preeshl sold 924 shares of the business’s stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $53.65, for a total value of $49,572.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,671 shares of company stock valued at $2,448,005. 0.85% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Plimoth Trust Co. LLC lifted its holdings in shares of Maxim Integrated Products by 2.5% in the 3rd quarter. Plimoth Trust Co. LLC now owns 7,925 shares of the semiconductor company’s stock worth $446,000 after buying an additional 190 shares during the period. IMS Capital Management purchased a new stake in shares of Maxim Integrated Products in the 3rd quarter worth $28,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Maxim Integrated Products by 4.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock worth $1,287,000 after buying an additional 902 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Maxim Integrated Products by 91.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after buying an additional 989 shares during the period. Finally, Krane Funds Advisors LLC lifted its holdings in shares of Maxim Integrated Products by 9.3% in the 3rd quarter. Krane Funds Advisors LLC now owns 11,896 shares of the semiconductor company’s stock worth $671,000 after buying an additional 1,014 shares during the period. Institutional investors own 91.77% 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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