Maxim Integrated Products, Inc. (MXIM) Director Mary Ann Wright Sells 560 Shares
Maxim Integrated Products, Inc. (NASDAQ:MXIM) Director Mary Ann Wright sold 560 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Maxim Integrated Products, Inc. (MXIM) traded up 0.36% during midday trading on Thursday, reaching $47.01. The company had a trading volume of 494,571 shares. The company has a market capitalization of $13.26 billion, a P/E ratio of 23.74 and a beta of 1.04. The company’s 50 day moving average is $45.33 and its 200-day moving average is $45.63. Maxim Integrated Products, Inc. has a 52-week low of $37.25 and a 52-week high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $602.00 million for the quarter, compared to analyst estimates of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities analysts expect that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a $0.36 dividend. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.44 annualized dividend and a yield of 3.07%. Maxim Integrated Products’s payout ratio is 72.36%.
Maxim Integrated Products declared that its board has initiated a stock buyback program on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Several equities research analysts have recently commented on MXIM shares. Stifel Nicolaus reissued a “buy” rating and set a $54.00 price target (up previously from $52.00) on shares of Maxim Integrated Products in a research note on Friday, May 26th. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. BidaskClub raised Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. Finally, Maxim Group started coverage on Maxim Integrated Products in a research note on Friday, June 16th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and an average price target of $48.06.
A number of institutional investors have recently bought and sold shares of the business. Navellier & Associates Inc grew its position in Maxim Integrated Products by 3.3% in the second quarter. Navellier & Associates Inc now owns 41,353 shares of the semiconductor company’s stock worth $1,857,000 after buying an additional 1,312 shares during the last quarter. WFG Advisors LP grew its position in Maxim Integrated Products by 201.1% in the second quarter. WFG Advisors LP now owns 3,962 shares of the semiconductor company’s stock worth $178,000 after buying an additional 2,646 shares during the last quarter. Toronto Dominion Bank grew its position in Maxim Integrated Products by 12.1% in the second quarter. Toronto Dominion Bank now owns 3,474 shares of the semiconductor company’s stock worth $156,000 after buying an additional 375 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Maxim Integrated Products in the second quarter worth approximately $451,000. Finally, Koch Industries Inc. grew its position in Maxim Integrated Products by 17,243.5% in the second quarter. Koch Industries Inc. now owns 899,089 shares of the semiconductor company’s stock worth $880,000 after buying an additional 893,905 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.
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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