Insider Selling: Tunc Doluca Unloads 4,000 Shares of Maxim Integrated Products Stock (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) CEO Tunc Doluca sold 4,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $30.10, for a total value of $120,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down 1.27% during mid-day trading on Tuesday, hitting $29.48. 3,266,205 shares of the company’s stock traded hands. Maxim Integrated Products has a 52-week low of $26.49 and a 52-week high of $33.67. The stock has a 50-day moving average of $28.67 and a 200-day moving average of $28.78. The company has a market cap of $8.333 billion and a price-to-earnings ratio of 21.89.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings data on Wednesday, January 22nd. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.39 by $0.03. The company had revenue of $620.00 million for the quarter, compared to the consensus estimate of $620.31 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that Maxim Integrated Products will post $1.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 6th. Investors of record on Thursday, February 20th will be given a dividend of 0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, February 18th.
MXIM has been the subject of a number of recent research reports. Analysts at Citigroup Inc. cut their price target on shares of Maxim Integrated Products from $31.00 to $30.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Barclays upgraded shares of Maxim Integrated Products from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 28th. They now have a $35.00 price target on the stock, up previously from $28.00. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Maxim Integrated Products in a research note to investors on Monday, January 27th. They now have a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.05.
Maxim Integrated Products, Inc (NASDAQ:MXIM) designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a number of customers in diverse geographical locations.
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