Maxim Integrated Products (MXIM) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 27, 2016.
Many Wall Street Analysts have commented on Maxim Integrated Products. Goldman Initiated Maxim Integrated Products on Jun 2, 2016 to “Neutral”, Price Target of the shares are set at $35.Credit Agricole Initiated Maxim Integrated Products on May 17, 2016 to “Underperform”, Price Target of the shares are set at $38.Company shares were Reiterated by Drexel Hamilton on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 42 from a previous price target of $40 .
On the company’s financial health, Maxim Integrated Products reported $0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.42. The company had revenue of $555.00 million for the quarter, compared to analysts expectations of $555.35 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.
Maxim Integrated Products closed down -2.79 points or -7.36% at $35.1 with 82,55,594 shares getting traded on Friday. Post opening the session at $36.13, the shares hit an intraday low of $35.06 and an intraday high of $36.9399 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 14, 2016, B Kipling Hagopian (director) sold 60,948 shares at $37.54 per share price. According to the SEC, on Jun 10, 2016, Bruce E Kiddoo (CFO AND SENIOR VP) sold 25,000 shares at $37.90 per share price. On Jun 9, 2016, Steven T Yamasaki (VP, HUMAN RESOURCES) sold 14,000 shares at $37.81 per share price, according to the Form-4 filing with the securities and exchange commission.
Maxim Integrated Products Inc. is engaged in designing developing manufacturing and marketing a range of linear and mixed-signal integrated circuits referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company’s products include switching regulators charge pumps linear regulators light-emitting diode drivers power switching transceivers level translators broadband switches current loop products real-time clocks data loggers and microcontrollers. The Company serves markets including communications and data center computing and consumer markets. Its communications and data center caters to base stations data storage servers telecommunications and other communications. Its computing caters to desktop computers notebook computers and peripherals. Its consumer products cater to smartphones digital cameras handheld computers home entertainment and appliances.