Maxim Integrated Products (MXIM) Shares Up 6.2%

Maxim Integrated Products Inc. (NASDAQ:MXIM) shot up 6.2% during mid-day trading on Thursday . The stock traded as high as $53.61 and last traded at $53.12. 4,847,483 shares changed hands during mid-day trading, an increase of 90% from the average session volume of 2,552,083 shares. The stock had previously closed at $50.02.

Several brokerages have issued reports on MXIM. JPMorgan Chase & Co. boosted their price target on shares of Maxim Integrated Products from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Deutsche Bank reduced their target price on shares of Maxim Integrated Products from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays reduced their target price on shares of Maxim Integrated Products from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Citigroup reduced their target price on shares of Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets boosted their target price on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.76.

The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. The company has a market cap of $14.41 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.60%. The company had revenue of $638.50 million for the quarter, compared to the consensus estimate of $635.19 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 29th will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, November 28th. This represents a $1.84 annualized dividend and a yield of 3.54%. Maxim Integrated Products’s dividend payout ratio (DPR) is 67.90%.

In related news, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $63.00, for a total transaction of $1,575,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Vivek Jain sold 10,474 shares of the company’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $61.87, for a total transaction of $648,026.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,379 shares of company stock worth $3,339,696. 0.85% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY lifted its position in Maxim Integrated Products by 4.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock worth $1,287,000 after buying an additional 902 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Maxim Integrated Products by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock worth $14,289,000 after buying an additional 913 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Maxim Integrated Products by 91.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after buying an additional 989 shares in the last quarter. Argent Trust Co lifted its position in Maxim Integrated Products by 27.3% during the 2nd quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after buying an additional 1,019 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its position in Maxim Integrated Products by 11.7% during the 3rd quarter. Ridgewood Investments LLC now owns 11,286 shares of the semiconductor company’s stock valued at $636,000 after purchasing an additional 1,186 shares during the period. Institutional investors and hedge funds own 90.87% of the company’s stock.

Maxim Integrated Products Company Profile (NASDAQ:MXIM)

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

Read More: Stock Symbols Definition, Examples, Lookup

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply