Maxim Integrated Products Inc. (NASDAQ:MXIM)’s share price traded down 6.9% on Tuesday after an insider sold shares in the company. The stock traded as low as $60.88 and last traded at $61.71. 7,658,929 shares were traded during mid-day trading, an increase of 123% from the average session volume of 3,432,356 shares. The stock had previously closed at $66.27.
Specifically, Director William D. Watkins sold 19,650 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $51.49, for a total value of $1,011,778.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher J. Neil sold 12,634 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.01, for a total transaction of $783,434.34. The disclosure for this sale can be found here. Insiders have sold a total of 177,949 shares of company stock valued at $9,874,042 over the last quarter. 1.11% of the stock is currently owned by company insiders.
Several research analysts have commented on MXIM shares. Morgan Stanley upped their price objective on shares of Maxim Integrated Products from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Wells Fargo & Co upped their price objective on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Zacks Investment Research lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, November 13th. KeyCorp upped their price objective on shares of Maxim Integrated Products from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. Finally, Stifel Nicolaus upped their price objective on shares of Maxim Integrated Products from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Fifteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and an average target price of $54.29.
The company has a market capitalization of $17,170.00, a PE ratio of 45.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10. The company has a quick ratio of 13.09, a current ratio of 4.48 and a debt-to-equity ratio of 0.50.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. The firm had revenue of $623.00 million for the quarter, compared to the consensus estimate of $620.46 million. Maxim Integrated Products had a net margin of 16.08% and a return on equity of 32.59%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. equities analysts expect that Maxim Integrated Products Inc. will post 2.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.42 dividend. The ex-dividend date is Wednesday, February 28th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.36. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.75%. Maxim Integrated Products’s dividend payout ratio is currently 108.27%.
Several large investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in Maxim Integrated Products during the 4th quarter valued at about $121,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Maxim Integrated Products during the 3rd quarter valued at about $128,000. Toronto Dominion Bank grew its position in Maxim Integrated Products by 12.1% during the 2nd quarter. Toronto Dominion Bank now owns 3,474 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 375 shares during the last quarter. WFG Advisors LP grew its position in Maxim Integrated Products by 201.1% during the 2nd quarter. WFG Advisors LP now owns 3,962 shares of the semiconductor company’s stock valued at $178,000 after purchasing an additional 2,646 shares during the last quarter. Finally, IBM Retirement Fund purchased a new stake in Maxim Integrated Products during the 3rd quarter valued at about $200,000. 90.41% of the stock is currently owned by hedge funds and other institutional investors.
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About Maxim Integrated Products
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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