Investors Buy Shares of Maxim Integrated Products (MXIM) on Weakness

Traders bought shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) on weakness during trading hours on Wednesday. $35.47 million flowed into the stock on the tick-up and $20.74 million flowed out of the stock on the tick-down, for a money net flow of $14.73 million into the stock. Of all equities tracked, Maxim Integrated Products had the 28th highest net in-flow for the day. Maxim Integrated Products traded down ($0.20) for the day and closed at $52.94

MXIM has been the topic of a number of research analyst reports. Evercore ISI decreased their price target on Maxim Integrated Products from $60.00 to $55.00 in a research note on Monday, January 14th. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Cowen started coverage on Maxim Integrated Products in a research note on Friday, February 22nd. They issued a “market perform” rating and a $56.00 price objective on the stock. Morgan Stanley reduced their price objective on Maxim Integrated Products from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 19th. Finally, Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.67.

The company has a market cap of $14.53 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 6.54 and a quick ratio of 5.85.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.02). The company had revenue of $576.91 million for the quarter, compared to analyst estimates of $590.50 million. Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. Research analysts predict that Maxim Integrated Products Inc. will post 2.45 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, February 27th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 67.90%.

In related news, CEO Tunc Doluca sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $54.96, for a total transaction of $137,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary Ann Wright sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $51.68, for a total value of $80,827.52. The disclosure for this sale can be found here. Insiders have sold a total of 37,690 shares of company stock worth $2,088,305 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in Maxim Integrated Products by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 28,025,275 shares of the semiconductor company’s stock worth $1,580,346,000 after purchasing an additional 150,909 shares during the last quarter. BlackRock Inc. increased its holdings in Maxim Integrated Products by 4.7% during the 3rd quarter. BlackRock Inc. now owns 24,164,756 shares of the semiconductor company’s stock worth $1,362,651,000 after purchasing an additional 1,077,289 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Maxim Integrated Products by 897,788.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,191,030 shares of the semiconductor company’s stock worth $574,673,000 after purchasing an additional 10,189,895 shares during the last quarter. American International Group Inc. increased its holdings in Maxim Integrated Products by 27,390.1% during the 4th quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after purchasing an additional 7,610,336 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Maxim Integrated Products by 37.6% during the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after purchasing an additional 1,160,574 shares during the last quarter. 93.69% of the stock is currently owned by hedge funds and other institutional investors.

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Maxim Integrated Products Company Profile (NASDAQ:MXIM)

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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