Investors Buy Maxim Integrated Products (MXIM) on Weakness

Traders purchased shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) on weakness during trading hours on Thursday. $40.02 million flowed into the stock on the tick-up and $15.85 million flowed out of the stock on the tick-down, for a money net flow of $24.17 million into the stock. Of all equities tracked, Maxim Integrated Products had the 23rd highest net in-flow for the day. Maxim Integrated Products traded down ($0.71) for the day and closed at $61.04

Several equities research analysts have recently commented on the company. B. Riley reissued a “hold” rating and issued a $54.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 26th. SunTrust Banks reissued a “hold” rating and issued a $63.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 26th. Maxim Group reissued a “hold” rating and issued a $67.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 26th. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Oppenheimer reissued a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, January 26th. Fifteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and an average price target of $54.29.

The company has a debt-to-equity ratio of 0.50, a current ratio of 4.48 and a quick ratio of 4.14. The stock has a market cap of $13,740.00, a PE ratio of 27.93, a PEG ratio of 2.25 and a beta of 1.19.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. The business had revenue of $623.00 million for the quarter, compared to analyst estimates of $620.46 million. Maxim Integrated Products had a return on equity of 32.59% and a net margin of 16.08%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. equities analysts forecast that Maxim Integrated Products Inc. will post 2.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.36. This represents a $1.68 annualized dividend and a yield of 2.71%. Maxim Integrated Products’s payout ratio is currently 64.86%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 21,000 shares of Maxim Integrated Products stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $51.74, for a total transaction of $1,086,540.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James R. Bergman sold 30,300 shares of Maxim Integrated Products stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $62.40, for a total value of $1,890,720.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 245,256 shares of company stock worth $14,327,565. Corporate insiders own 1.11% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MXIM. Bank of New York Mellon Corp lifted its holdings in Maxim Integrated Products by 29.9% during the third quarter. Bank of New York Mellon Corp now owns 13,758,325 shares of the semiconductor company’s stock worth $656,409,000 after acquiring an additional 3,164,871 shares in the last quarter. BlackRock Inc. raised its stake in shares of Maxim Integrated Products by 11.0% in the 4th quarter. BlackRock Inc. now owns 21,341,356 shares of the semiconductor company’s stock valued at $1,115,726,000 after purchasing an additional 2,108,322 shares during the period. American Century Companies Inc. raised its stake in shares of Maxim Integrated Products by 17.2% in the 3rd quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after purchasing an additional 2,087,911 shares during the period. Janus Henderson Group PLC raised its stake in shares of Maxim Integrated Products by 1,961.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,057,761 shares of the semiconductor company’s stock valued at $50,471,000 after purchasing an additional 1,006,451 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Maxim Integrated Products by 50.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,477,908 shares of the semiconductor company’s stock valued at $118,221,000 after purchasing an additional 834,443 shares during the period.

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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 caters to automotive, communications and data center, computing, consumer and industrial markets.

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