Maxim Integrated Products (MXIM) Stock Price Down 6.2%

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Maxim Integrated Products Inc. (NASDAQ:MXIM) fell 6.2% during trading on Monday . The company traded as low as $52.78 and last traded at $53.42. 2,905,285 shares changed hands during trading, an increase of 45% from the average session volume of 2,005,187 shares. The stock had previously closed at $56.96.

MXIM has been the subject of several recent research reports. ValuEngine cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. MKM Partners lifted their price target on Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Deutsche Bank lifted their price target on Maxim Integrated Products from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Barclays lifted their price target on Maxim Integrated Products from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.83.

The stock has a market cap of $14.60 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.46 and a quick ratio of 5.77.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. The business had revenue of $542.38 million during the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The business’s revenue was down 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. Analysts forecast that Maxim Integrated Products Inc. will post 2.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, May 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 67.90%.

In other news, VP Vivek Jain sold 14,246 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $60.58, for a total value of $863,022.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tunc Doluca sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.31, for a total value of $422,170.00. The disclosure for this sale can be found here. Insiders sold 72,352 shares of company stock valued at $4,172,270 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc increased its position in shares of Maxim Integrated Products by 0.5% during the third quarter. Vanguard Group Inc now owns 28,025,275 shares of the semiconductor company’s stock worth $1,580,346,000 after purchasing an additional 150,909 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Maxim Integrated Products by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 7,859,316 shares of the semiconductor company’s stock worth $417,880,000 after purchasing an additional 37,688 shares in the last quarter. American International Group Inc. increased its position in shares of Maxim Integrated Products by 27,390.1% during the fourth quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after purchasing an additional 7,610,336 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Maxim Integrated Products by 7.1% during the first quarter. Geode Capital Management LLC now owns 4,554,342 shares of the semiconductor company’s stock worth $241,991,000 after purchasing an additional 303,498 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Maxim Integrated Products by 1.6% during the first quarter. Northern Trust Corp now owns 3,765,614 shares of the semiconductor company’s stock worth $200,218,000 after purchasing an additional 59,594 shares in the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

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About Maxim Integrated Products (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.

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