Insider Selling: Maxim Integrated Products Director Unloads 2,000 Shares of Stock (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) Director James R. Bergman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $30.67, for a total value of $61,340.00. Following the sale, the director now directly owns 84,600 shares in the company, valued at approximately $2,594,682. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MXIM shares. 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.00.
Maxim Integrated Products (NASDAQ:MXIM) traded up 1.99% on Thursday, hitting $31.25. 2,375,240 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 $28.99 and a 200-day moving average of $28.88. The company has a market cap of $8.815 billion and a price-to-earnings ratio of 22.63.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly 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. Analysts expect that Maxim Integrated Products will post $1.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, March 6th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, February 18th.
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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