Maxim Integrated Products (MXIM) was Downgraded by RBC Capital Mkts to ” Sector Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Sep 7, 2016.
Many Wall Street Analysts have commented on Maxim Integrated Products. Shares were Reiterated by RBC Capital Mkts on Jul 1, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $42 .Maxim Integrated Products was Downgraded by BofA/Merrill to ” Neutral” on Jun 27, 2016.
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 opened for trading at $40.72 and hit $41.21 on the upside on Thursday, eventually ending the session at $41.2, with a gain of 1.18% or 0.48 points. The heightened volatility saw the trading volume jump to 17,53,674 shares. Company has a market cap of $11,681 M.
In a different news, on Sep 2, 2016, Tunc Doluca (PRESIDENT, CEO & DIRECTOR) sold 22,500 shares at $40.85 per share price. According to the SEC, on Aug 30, 2016, Vivek Jain (SENIOR VP) sold 3,273 shares at $41.42 per share price. On Aug 23, 2016, Steven T Yamasaki (VP, HUMAN RESOURCES) sold 35,012 shares at $41.06 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.