David Loftus Sells 6,623 Shares of Maxim Integrated Products Inc. (MXIM) Stock

Maxim Integrated Products Inc. (NASDAQ:MXIM) VP David Loftus sold 6,623 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $60.01, for a total transaction of $397,446.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of MXIM stock opened at $57.91 on Friday. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. Maxim Integrated Products Inc. has a 12 month low of $45.79 and a 12 month high of $74.94. The stock has a market cap of $16.01 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.59 and a beta of 1.19.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 26th. The semiconductor company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Maxim Integrated Products had a net margin of 18.84% and a return on equity of 38.37%. The company had revenue of $633.10 million for the quarter, compared to the consensus estimate of $630.39 million. During the same period in the previous year, the firm earned $0.63 earnings per share. Maxim Integrated Products’s quarterly revenue was up 5.2% compared to the same quarter last year. research analysts anticipate that Maxim Integrated Products Inc. will post 3.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 3.18%. Maxim Integrated Products’s payout ratio is 67.90%.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Maxim Integrated Products from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. BMO Capital Markets raised their price target on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. Maxim Group reissued a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, July 27th. MKM Partners raised their price target on shares of Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Finally, BidaskClub downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.06.

A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY raised its stake in Maxim Integrated Products by 4.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock worth $1,287,000 after purchasing an additional 902 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Maxim Integrated Products by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock valued at $14,289,000 after acquiring an additional 913 shares during the period. Argent Trust Co raised its stake in shares of Maxim Integrated Products by 27.3% in the 2nd quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 1,019 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Maxim Integrated Products by 1.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 69,128 shares of the semiconductor company’s stock valued at $4,055,000 after acquiring an additional 1,226 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Maxim Integrated Products by 5.3% in the 2nd quarter. CIBC Asset Management Inc now owns 24,838 shares of the semiconductor company’s stock valued at $1,457,000 after acquiring an additional 1,248 shares during the period. 90.72% of the stock is currently owned by 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.

Further Reading: Market Capitalization and Individual Investors

Insider Buying and Selling by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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