Maxim Integrated Products Inc. (MXIM): Today's Featured Technology Loser
Maxim Integrated Products (MXIM) pushed the Technology sector lower today making it today's featured Technology loser. The sector as a whole closed the day up 1.5%. By the end of trading, Maxim Integrated Products fell 13 cents (-0.5%) to $25.79 on average volume. Throughout the day, 2.8 million shares of Maxim Integrated Products exchanged hands as compared to its average daily volume of 2.6 million shares. The stock ranged in price between $25.78-$26.01 after having opened the day at $25.79 as compared to the previous trading day's close of $25.92. Other company's within the Technology sector that declined today were: Microvision (MVIS), down 24.1%, New Energy Systems Group (NEWN), down 17.2%, The9 (NCTY), down 14.1%, and II-VI (IIVI), down 12.6%. Maxim Integrated Products, Inc. engages in designing, developing, manufacturing, and marketing various linear and mixed-signal integrated circuits worldwide. The company also provides various high-frequency process technologies and capabilities for use in custom designs. Maxim Integrated Products has a market cap of $7.66 billion and is part of the electronics industry. The company has a P/E ratio of 21.5, above the average electronics industry P/E ratio of 19.9 and above the S&P 500 P/E ratio of 17.7. Shares are down 3.8% year to date as of the close of trading on Thursday. Currently there are 12 analysts that rate Maxim Integrated Products a buy, one analyst rates it a sell, and nine rate it a hold. TheStreet Ratings rates Maxim Integrated Products as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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