Maxim Integrated Products Inc. (MXIM) Reaches New 1-Year High at $42.37
Maxim Integrated Products Inc. (NASDAQ:MXIM)’s share price reached a new 52-week high on Wednesday . The company traded as high as $42.37 and last traded at $41.21, with a volume of 3,276,336 shares. The stock had previously closed at $40.91.
Several equities analysts have recently commented on the company. Jefferies Group reiterated a “buy” rating and set a $42.00 target price (up from $41.00) on shares of Maxim Integrated Products in a research note on Tuesday. Royal Bank Of Canada upgraded Maxim Integrated Products from a “sector perform” rating to an “outperform” rating in a research note on Saturday, April 9th. BMO Capital Markets cut Maxim Integrated Products from an “outperform” rating to a “market perform” rating and set a $39.00 target price for the company. in a research note on Tuesday, July 19th. They noted that the move was a valuation call. Bank of America Corp. cut Maxim Integrated Products from a “buy” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $39.00 in a research note on Monday, June 27th. Finally, Maxim Group reiterated an “outperform” rating and set a $40.00 target price (down from $42.00) on shares of Maxim Integrated Products in a research note on Saturday, July 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.33.
The stock has a 50-day moving average price of $37.26 and a 200-day moving average price of $35.53. The stock has a market cap of $11.59 billion and a PE ratio of 51.576.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $566 million for the quarter, compared to analyst estimates of $575.46 million. On average, equities research analysts anticipate that Maxim Integrated Products Inc. will post $1.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.25%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, August 16th.
In related news, VP Edwin Medlin sold 2,496 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $35.46, for a total value of $88,508.16. Following the sale, the vice president now owns 64,959 shares of the company’s stock, valued at approximately $2,303,446.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director A R. Frank Wazzan sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $37.58, for a total value of $112,740.00. Following the completion of the sale, the director now directly owns 115,833 shares in the company, valued at approximately $4,353,004.14. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in the stock. Suntrust Banks Inc. raised its stake in shares of 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 bought a new stake in shares of Maxim Integrated Products during the fourth quarter valued at approximately $1,330,000. KBC Group NV raised its stake in shares of Maxim Integrated Products by 1.2% in the fourth quarter. KBC Group NV now owns 37,288 shares of the company’s stock valued at $1,417,000 after buying an additional 433 shares in the last quarter. I.G. Investment Management LTD. raised its stake in shares of 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 valued at $2,700,000 after buying an additional 16,101 shares in the last quarter. Finally, Airain ltd bought a new stake in shares of Maxim Integrated Products during the fourth quarter valued at 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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