Traders Sell Shares of Maxim Integrated Products Inc. (MXIM) on Strength on Insider Selling
Investors sold shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) on strength during trading on Friday after an insider sold shares in the company. $7.59 million flowed into the stock on the tick-up and $45.16 million flowed out of the stock on the tick-down, for a money net flow of $37.57 million out of the stock. Of all stocks tracked, Maxim Integrated Products had the 18th highest net out-flow for the day. Maxim Integrated Products traded up $0.32 for the day and closed at $40.07Specifically, Director A R. Frank Wazzan sold 1,000 shares of Maxim Integrated Products stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $40.77, for a total transaction of $40,770.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tunc Doluca sold 20,500 shares of Maxim Integrated Products stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $40.03, for a total value of $820,615.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
A number of brokerages have recently issued reports on MXIM. Maxim Group downgraded Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 8th. Barclays PLC raised their price objective on Maxim Integrated Products from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 31st. Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Pacific Crest restated an “overweight” rating on shares of Maxim Integrated Products in a research report on Thursday, September 15th. Finally, Royal Bank Of Canada downgraded Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Maxim Integrated Products presently has an average rating of “Hold” and a consensus price target of $41.10.
The company has a market cap of $11.40 billion, a P/E ratio of 50.89 and a beta of 1.14. The stock’s 50-day moving average is $39.80 and its 200 day moving average is $37.99.
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Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 21st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company earned $566 million during the quarter, compared to analysts’ expectations of $575.46 million. Maxim Integrated Products had a return on equity of 22.15% and a net margin of 10.36%. Equities analysts forecast that Maxim Integrated Products Inc. will post $1.96 EPS for the current year.
A number of large investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its stake in Maxim Integrated Products by 87.8% in the second quarter. Global X Management Co. LLC now owns 2,824 shares of the company’s stock valued at $101,000 after buying an additional 1,320 shares during the period. IFP Advisors Inc boosted its stake in Maxim Integrated Products by 31.3% in the second quarter. IFP Advisors Inc now owns 2,874 shares of the company’s stock valued at $103,000 after buying an additional 685 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Maxim Integrated Products by 17.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,085 shares of the company’s stock valued at $123,000 after buying an additional 455 shares during the period. Advisor Group Inc. acquired a new stake in Maxim Integrated Products during the second quarter valued at $110,000. Finally, Tower Research Capital LLC TRC boosted its stake in Maxim Integrated Products by 432.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,897 shares of the company’s stock valued at $139,000 after buying an additional 3,165 shares during the period. Institutional investors own 90.23% of the company’s stock.
About Maxim Integrated Products
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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