Maxim Integrated Products Inc. (NASDAQ:MXIM) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 9,140,697 shares, an increase of 25.7% from the October 15th total of 7,271,077 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 3,890,902 shares, the days-to-cover ratio is currently 2.3 days.
Shares of MXIM stock opened at $52.09 on Friday. Maxim Integrated Products has a 1-year low of $46.85 and a 1-year high of $74.94. The firm has a market cap of $14.32 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. The firm had revenue of $638.50 million for the quarter, compared to analyst estimates of $635.19 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Maxim Integrated Products’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts predict that Maxim Integrated Products will post 2.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 29th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Wednesday, November 28th. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.
MXIM has been the topic of a number of recent research reports. ValuEngine lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Friday, September 7th. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research lowered Maxim Integrated Products from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 26th. Goldman Sachs Group lowered Maxim Integrated Products from a “neutral” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Morgan Stanley dropped their target price on Maxim Integrated Products from $59.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $60.76.
In other news, Director Mary Ann Wright sold 440 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $60.43, for a total value of $26,589.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sumeet Gagneja sold 471 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $60.74, for a total value of $28,608.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,905 shares of company stock valued at $1,116,669. 0.85% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its position in shares of Maxim Integrated Products by 21.7% in the third quarter. Canada Pension Plan Investment Board now owns 635,541 shares of the semiconductor company’s stock valued at $35,838,000 after acquiring an additional 113,189 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Maxim Integrated Products in the third quarter valued at $3,204,000. DekaBank Deutsche Girozentrale lifted its position in shares of Maxim Integrated Products by 1.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 133,091 shares of the semiconductor company’s stock valued at $8,171,000 after acquiring an additional 2,033 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Maxim Integrated Products by 12.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,135 shares of the semiconductor company’s stock valued at $4,124,000 after acquiring an additional 7,808 shares in the last quarter. Finally, BSW Wealth Partners purchased a new stake in shares of Maxim Integrated Products in the third quarter valued at $221,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.
Maxim Integrated Products Company Profile
Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
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