Maxim Integrated Receives a Hold from Oppenheimer

By Austin Angelo

Oppenheimer analyst Rick Schafer reiterated a Hold rating on Maxim Integrated (NASDAQ: MXIM) yesterday. The company’s shares closed yesterday at $45.45.

Schafer observed:

“MXIM delivered another round of beat/raise results with F3Q (March) sales/EPS of $581M/$0.56 besting the Street’s $576M/$0.52, and F4Q (June) guidance of $610M/ $0.62 easily ahead of consensus $598M/$0.58. Auto/industrial (~50% of sales) is driving upside. GM of 65.2% was just ahead of mgmt’s LT target and expected up another 100bps Q/Q in F4Q. Investors would typically cheer such a solid upside result/ outlook; however, mgmt commentary concerning slowing auto orders could temper enthusiasm near term. In addition to MXIM, semiconductor auto bellwethers include NXPI, ADI, and TXN.”

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 16.9% and a 72.4% success rate. Schafer covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Advanced Micro Devices, and NXP Semiconductors.

Currently, the analyst consensus on Maxim Integrated is Moderate Buy and the average price target is $46.50, representing a 2.3% upside.

In a report issued on April 17, BMO Capital also reiterated a Hold rating on the stock with a $43 price target.

Maxim Integrated’s market cap is currently $12.61B and has a P/E ratio of 25.77. The company has a book value ratio of 5.8788.

Based on the recent corporate insider activity of 131 insiders, corporate insider sentiment is negative on the stock.

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Maxim Integrated Products, Inc. designs, develops, manufactures and markets a broad range of linear and mixed-signal integrated circuits. Its products include integrated power circuits, amplifiers, data converters, analog filters, transceivers, expanders, level translators, broadband switches, powerline communications, microcontrollers, data loggers, ibutton, solar energy, and automotive. The company was founded by Jack F. Gifford in 1983 and is headquartered in San Jose, CA.