Maxim Integrated (NASDAQ:MXIM) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 6,406,287 shares, a drop of 28.7% from the April 30th total of 8,988,654 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average trading volume of 2,293,765 shares, the days-to-cover ratio is presently 2.8 days.
In other Maxim Integrated news, Director Joseph R. Bronson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $54.08, for a total transaction of $270,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $57.96, for a total transaction of $202,860.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,580 shares of company stock worth $5,803,934 over the last quarter. 1.11% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its holdings in Maxim Integrated by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,766,421 shares of the semiconductor company’s stock worth $353,748,000 after buying an additional 196,139 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Maxim Integrated by 38.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,261,400 shares of the semiconductor company’s stock worth $118,226,000 after buying an additional 632,500 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Maxim Integrated by 9.1% during the fourth quarter. Shell Asset Management Co. now owns 85,469 shares of the semiconductor company’s stock worth $4,468,000 after buying an additional 7,102 shares in the last quarter. Koch Industries Inc. boosted its holdings in Maxim Integrated by 57.9% during the fourth quarter. Koch Industries Inc. now owns 20,592 shares of the semiconductor company’s stock worth $1,077,000 after buying an additional 7,552 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Maxim Integrated by 64.4% during the fourth quarter. US Bancorp DE now owns 111,921 shares of the semiconductor company’s stock worth $5,852,000 after buying an additional 43,841 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on MXIM. Morgan Stanley raised shares of Maxim Integrated from an “underweight” rating to an “equal” rating and set a $44.00 price objective on the stock in a research report on Tuesday, January 30th. ValuEngine downgraded shares of Maxim Integrated from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Macquarie downgraded shares of Maxim Integrated from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $62.00 to $64.00 in a research report on Wednesday, February 28th. Zacks Investment Research raised shares of Maxim Integrated from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Finally, BidaskClub raised shares of Maxim Integrated from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Maxim Integrated currently has an average rating of “Hold” and an average price target of $57.38.
Shares of NASDAQ:MXIM opened at $59.18 on Friday. The stock has a market capitalization of $16.45 billion, a PE ratio of 27.92, a PEG ratio of 2.14 and a beta of 1.16. The company has a current ratio of 4.16, a quick ratio of 3.82 and a debt-to-equity ratio of 0.51. Maxim Integrated has a fifty-two week low of $43.42 and a fifty-two week high of $74.94.
Maxim Integrated (NASDAQ:MXIM) last issued its earnings results on Thursday, April 26th. The semiconductor company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The business had revenue of $648.60 million for the quarter, compared to the consensus estimate of $640.50 million. Maxim Integrated had a net margin of 17.82% and a return on equity of 35.78%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 earnings per share. equities analysts predict that Maxim Integrated will post 2.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 31st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, May 30th. Maxim Integrated’s dividend payout ratio is currently 79.25%.
Maxim Integrated Company Profile
Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
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