Maxim Integrated Products Sees Unusually High Options Volume (MXIM)
Shares of Maxim Integrated Products (NASDAQ:MXIM) were the target of some unusual options trading activity on Friday. Stock traders bought 22,447 call options on the company, AnalystRatingsNetwork.com reports. This represents an increase of approximately 1,106% compared to the typical volume of 1,861 call options.
In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 70,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $31.20, for a total value of $2,184,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $33.00.
Maxim Integrated Products (NASDAQ:MXIM) traded up 0.77% during mid-day trading on Friday, hitting $31.49. The stock had a trading volume of 3,108,574 shares. 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 $29.06 and a 200-day moving average of $28.89. The company has a market cap of $8.882 billion and a price-to-earnings ratio of 23.08.
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 announced a quarterly dividend, which is scheduled for Thursday, March 6th. Shareholders 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 3.33%. 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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