Insider Selling: Maxim Integrated Products CEO Unloads 2,000 Shares of Stock (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) CEO Tunc Doluca sold 2,000 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $29.45, for a total value of $58,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 0.47% on Tuesday, hitting $29.77. 1,387,034 shares of the company’s stock traded hands. Maxim Integrated Products has a 52 week low of $27.18 and a 52 week high of $35.76. The stock’s 50-day moving average is $33.19 and its 200-day moving average is $32.42. The company has a market cap of $8.438 billion and a P/E ratio of 24.09.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings data on Thursday, July 24th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.48 by $0.05. The company had revenue of $642.50 million for the quarter, compared to the consensus estimate of $650.45 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Maxim Integrated Products will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Tuesday, August 19th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.26.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Maxim Integrated Products from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, July 30th. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Maxim Integrated Products in a research note on Friday, July 25th. They now have a $28.00 price target on the stock, down previously from $31.00. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of Maxim Integrated Products in a research note on Friday, July 25th. They now have a $33.00 price target on the stock, down previously from $37.00. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.10.
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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