Traders sold shares of Maxim Integrated (NASDAQ:MXIM) on strength during trading on Friday. $21.29 million flowed into the stock on the tick-up and $203.34 million flowed out of the stock on the tick-down, for a money net flow of $182.05 million out of the stock. Of all equities tracked, Maxim Integrated had the 0th highest net out-flow for the day. Maxim Integrated traded up $0.35 for the day and closed at $59.18
Several equities research analysts recently commented on MXIM shares. Macquarie cut Maxim Integrated from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $62.00 to $64.00 in a research note on Wednesday, February 28th. Citigroup reduced their price objective on Maxim Integrated from $59.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, April 30th. BidaskClub cut Maxim Integrated from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 21st. Zacks Investment Research raised Maxim Integrated from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Finally, ValuEngine cut Maxim Integrated from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.38.
Get Maxim Integrated alerts:The company has a quick ratio of 3.82, a current ratio of 4.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.15 and a beta of 1.16.
Maxim Integrated (NASDAQ:MXIM) last posted its earnings results on Thursday, April 26th. The semiconductor company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Maxim Integrated had a return on equity of 35.78% and a net margin of 17.82%. The company had revenue of $648.60 million for the quarter, compared to analyst estimates of $640.50 million. During the same quarter last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. equities analysts forecast that Maxim Integrated will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 31st will be issued a $0.42 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.84%. Maxim Integrated’s dividend payout ratio is presently 79.25%.
In other news, VP David Loftus sold 9,084 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $61.42, for a total value of $557,939.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Tunc Doluca sold 31,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $60.76, for a total value of $1,883,560.00. The disclosure for this sale can be found here. Insiders sold 98,580 shares of company stock worth $5,803,934 in the last 90 days. Corporate insiders own 1.11% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its holdings in Maxim Integrated by 0.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,230,789 shares of the semiconductor company’s stock worth $64,346,000 after acquiring an additional 8,447 shares during the period. James Investment Research Inc. bought a new stake in Maxim Integrated during the fourth quarter worth $1,615,000. Cerebellum GP LLC bought a new stake in Maxim Integrated during the fourth quarter worth $121,000. Robeco Institutional Asset Management B.V. lifted its holdings in Maxim Integrated by 49.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 444,297 shares of the semiconductor company’s stock worth $23,229,000 after acquiring an additional 146,688 shares during the period. Finally, Eqis Capital Management Inc. lifted its holdings in Maxim Integrated by 10.2% during the fourth quarter. Eqis Capital Management Inc. now owns 34,457 shares of the semiconductor company’s stock worth $1,801,000 after acquiring an additional 3,199 shares during the period. Institutional investors own 90.28% of the company’s stock.
About Maxim Integrated
Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, 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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