Maxim Integrated Products Inc. (MXIM) Reaches New 52-Week High at $42.37
Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) reached a new 52-week high on Wednesday . The stock traded as high as $42.37 and last traded at $41.21, with a volume of 3,276,336 shares trading hands. The stock had previously closed at $40.91.
Several analysts have recently weighed in on MXIM shares. Jefferies Group reissued a “buy” rating and issued a $41.00 price target (up previously from $40.00) on shares of Maxim Integrated Products in a research note on Monday, April 25th. Sterne Agee CRT reissued a “buy” rating and issued a $43.00 price target (up previously from $40.00) on shares of Maxim Integrated Products in a research note on Saturday, April 23rd. Drexel Hamilton increased their price target on shares of Maxim Integrated Products from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Stifel Nicolaus increased their price target on shares of Maxim Integrated Products from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, Barclays PLC upped their price objective on shares of Maxim Integrated Products from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $39.33.
The company has a market cap of $11.73 billion and a PE ratio of 52.23. The company’s 50-day moving average price is $37.08 and its 200-day moving average price is $35.45.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 21st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company earned $566 million during the quarter, compared to analysts’ expectations of $575.46 million. On average, analysts predict that Maxim Integrated Products Inc. will post $1.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 3.23%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30.
In other Maxim Integrated Products news, Director B Kipling Hagopian sold 46,800 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $37.86, for a total transaction of $1,771,848.00. Following the completion of the sale, the director now directly owns 48,800 shares in the company, valued at $1,847,568. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tunc Doluca sold 2,508 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $36.00, for a total transaction of $90,288.00. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the company. Suntrust Banks Inc. increased its stake in Maxim Integrated Products by 23.0% in the fourth quarter. Suntrust Banks Inc. now owns 31,754 shares of the company’s stock valued at $1,206,000 after buying an additional 5,947 shares in the last quarter. BP PLC purchased a new position in Maxim Integrated Products during the fourth quarter worth approximately $1,330,000. KBC Group NV boosted its position in Maxim Integrated Products by 1.2% in the fourth quarter. KBC Group NV now owns 37,288 shares of the company’s stock worth $1,417,000 after buying an additional 433 shares during the last quarter. I.G. Investment Management LTD. boosted its position in Maxim Integrated Products by 29.3% in the fourth quarter. I.G. Investment Management LTD. now owns 71,060 shares of the company’s stock worth $2,700,000 after buying an additional 16,101 shares during the last quarter. Finally, Airain ltd purchased a new position in Maxim Integrated Products during the fourth quarter worth approximately $2,711,000.
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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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