Maxim Integrated Products, Inc. (NASDAQ:MXIM) insider Bryan Preeshl sold 1,234 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $45.71, for a total value of $56,406.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Bryan Preeshl also recently made the following trade(s):
- On Thursday, May 25th, Bryan Preeshl sold 13,586 shares of Maxim Integrated Products stock. The stock was sold at an average price of $47.78, for a total value of $649,139.08.
Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded down 0.27% during midday trading on Friday, hitting $43.87. The company had a trading volume of 2,190,850 shares. The company’s 50 day moving average is $45.47 and its 200-day moving average is $45.54. The company has a market cap of $12.37 billion, a P/E ratio of 22.16 and a beta of 1.04. Maxim Integrated Products, Inc. has a one year low of $37.25 and a one year high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share. On average, equities analysts predict that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.
Maxim Integrated Products announced that its Board of Directors has approved a share repurchase program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is presently 66.33%.
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Large investors have recently made changes to their positions in the company. Profund Advisors LLC boosted its stake in shares of Maxim Integrated Products by 15.9% in the first quarter. Profund Advisors LLC now owns 66,004 shares of the semiconductor company’s stock worth $2,968,000 after buying an additional 9,039 shares during the period. Korea Investment CORP boosted its stake in shares of Maxim Integrated Products by 115,956.1% in the first quarter. Korea Investment CORP now owns 388,788 shares of the semiconductor company’s stock worth $17,480,000 after buying an additional 388,453 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Maxim Integrated Products by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,555 shares of the semiconductor company’s stock worth $318,000 after buying an additional 320 shares during the period. Navellier & Associates Inc boosted its stake in shares of Maxim Integrated Products by 18.5% in the first quarter. Navellier & Associates Inc now owns 40,041 shares of the semiconductor company’s stock worth $1,800,000 after buying an additional 6,241 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Maxim Integrated Products by 51.7% in the first quarter. State of Alaska Department of Revenue now owns 35,137 shares of the semiconductor company’s stock worth $1,579,000 after buying an additional 11,977 shares during the period. 90.20% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on MXIM. BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, July 24th. B. Riley restated a “neutral” rating and issued a $47.00 price target on shares of Maxim Integrated Products in a report on Saturday, July 22nd. Morgan Stanley upped their price target on Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, July 17th. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.61.
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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