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.
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