Maxim Integrated Products Sees Large Increase in Short Interest (MXIM)
Shares of Maxim Integrated Products (NASDAQ:MXIM) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 7,487,002 shares, a growth of 20.1% from the July 31st total of 6,232,695 shares, American Banking News reports. Currently, 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 2,302,546 shares, the short-interest ratio is presently 3.3 days.
In other Maxim Integrated Products news, CTO Pirooz Parvarandeh sold 65,067 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $30.86, for a total value of $2,007,967.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on MXIM. 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 given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $34.11.
Maxim Integrated Products (NASDAQ:MXIM) opened at 30.89 on Monday. Maxim Integrated Products has a 52-week low of $27.40 and a 52-week high of $35.76. The stock’s 50-day moving average is $31.31 and its 200-day moving average is $32.53. The company has a market cap of $8.771 billion and a P/E ratio of 25.32.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings data on Thursday, July 24th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter 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 3.63%. The ex-dividend date of this dividend is Tuesday, August 19th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.26.
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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