Insider Selling: Edwin Medlin Sells 3,000 Shares of Maxim Integrated Products Stock (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) VP Edwin Medlin unloaded 3,000 shares of the stock on the open market in a transaction dated Monday, February 10th. The stock was sold at an average price of $30.21, for a total value of $90,630.00. Following the transaction, the vice president now directly owns 40,585 shares of the company’s stock, valued at approximately $1,226,073. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 0.40% during mid-day trading on Tuesday, hitting $30.39. The stock had a trading volume of 1,004,184 shares. Maxim Integrated Products has a 1-year low of $26.49 and a 1-year high of $33.67. The stock has a 50-day moving average of $28.81 and a 200-day moving average of $28.84. The company has a market cap of $8.572 billion and a price-to-earnings ratio of 22.36.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results 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. On average, analysts predict that Maxim Integrated Products will post $1.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 6th. Stockholders 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 3.44%. 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 Raymond James upgraded shares of Maxim Integrated Products from an “outperform” rating to a “strong-buy” rating in a research note on Monday. They now have a $37.00 price target on the stock, up previously from $33.00. They noted that the move was a valuation call. Separately, analysts at Citigroup Inc. cut their price target on shares of Maxim Integrated Products from $31.00 to $30.00 in a research note on Friday, January 31st. They now have a “neutral” rating on the stock. Finally, analysts at Barclays upgraded shares of Maxim Integrated Products from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 28th. They now have a $35.00 price target on the stock, up previously from $28.00. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.00.
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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