Maxim Integrated Products Sees Significant Drop in Short Interest (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 3,539,977 shares, a drop of 30.9% from the April 15th total of 5,123,783 shares, Analyst RN reports. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 2,477,325 shares, the days-to-cover ratio is currently 1.4 days.
In other Maxim Integrated Products news, VP Christopher Neil sold 26,000 shares of the stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $31.80, for a total value of $826,800.00. Following the completion of the transaction, the vice president now directly owns 101,448 shares in the company, valued at approximately $3,226,046. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MXIM shares. Analysts at Zacks reiterated a “neutral” rating on shares of Maxim Integrated Products in a research note on Wednesday, April 30th. They now have a $34.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Maxim Integrated Products from $36.20 to $39.00 in a research note on Friday, April 25th. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Maxim Integrated Products from $28.00 to $32.00 in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Maxim Integrated Products presently has an average rating of “Buy” and an average price target of $34.90.
Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at 32.22 on Monday. Maxim Integrated Products has a 1-year low of $26.49 and a 1-year high of $33.78. The stock’s 50-day moving average is $32.3 and its 200-day moving average is $30.40. The company has a market cap of $9.109 billion and a P/E ratio of 24.07.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $604.68 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Maxim Integrated Products will post $1.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 5th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, May 20th.
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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