Maxim Integrated Products VP Steven T. Yamasaki Sells 11,600 Shares (MXIM)
Maxim Integrated Products (NASDAQ:MXIM) VP Steven T. Yamasaki unloaded 11,600 shares of Maxim Integrated Products stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $31.05, for a total transaction of $360,180.00. Following the completion of the sale, the vice president now directly owns 48,020 shares in the company, valued at approximately $1,491,021. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded up 0.23% during mid-day trading on Tuesday, hitting $30.91. 1,285,010 shares of the company’s stock traded hands. Maxim Integrated Products has a 1-year low of $27.18 and a 1-year high of $35.76. The stock has a 50-day moving average of $31.65 and a 200-day moving average of $32.52. The company has a market cap of $8.776 billion and a price-to-earnings ratio of 25.07. Maxim Integrated Products also was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 7,487,002 shares, an increase of 20.1% from the July 31st total of 6,232,695 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily trading volume, of 2,302,546 shares, the days-to-cover ratio is presently 3.3 days.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results 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. On average, analysts predict that Maxim Integrated Products will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 4th. Investors 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 3.62%. The ex-dividend date of this dividend is Tuesday, August 19th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.26.
MXIM has been the subject of a number of recent research reports. Analysts at Goldman Sachs downgraded shares of Maxim Integrated Products from a “conviction-buy” rating to a “buy” rating in a research note on Monday, August 18th. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $34.11.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.