Maxim Integrated Products, Inc. (NASDAQ:MXIM) to Issue $0.36 Quarterly Dividend

Maxim Integrated Products, Inc. (NASDAQ:MXIM) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Stockholders of record on Thursday, November 30th will be given a dividend of 0.36 per share by the semiconductor company on Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, November 29th.

Maxim Integrated Products has increased its dividend by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Maxim Integrated Products has a payout ratio of 59.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Maxim Integrated Products to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 54.3%.

Maxim Integrated Products (NASDAQ:MXIM) opened at 52.07 on Friday. The stock’s 50 day moving average is $48.56 and its 200-day moving average is $46.52. Maxim Integrated Products has a 12-month low of $37.32 and a 12-month high of $53.10. The company has a market cap of $14.69 billion, a P/E ratio of 26.30 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts predict that Maxim Integrated Products will post $2.53 earnings per share for the current fiscal year.

Maxim Integrated Products declared that its board has authorized a share buyback plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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In other news, VP Vivek Jain sold 6,793 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $52.18, for a total value of $354,458.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $51.71, for a total value of $1,292,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,634 shares of company stock worth $10,635,788. Insiders own 1.11% of the company’s stock.

Several research analysts have recently commented on the company. Jefferies Group LLC reissued a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Wells Fargo & Company boosted their price objective on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. BMO Capital Markets boosted their price objective on Maxim Integrated Products from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, B. Riley reissued a “hold” rating and set a $47.00 price objective on shares of Maxim Integrated Products in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.14.

Maxim Integrated Products Company Profile

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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Dividend History for Maxim Integrated Products (NASDAQ:MXIM)

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