Stock Traders Buy Large Volume of Call Options on Maxim Integrated Products (MXIM)

Maxim Integrated Products Inc. (NASDAQ:MXIM) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 3,699 call options on the company. This represents an increase of approximately 1,868% compared to the average volume of 188 call options.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. BidaskClub upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Maxim Group reiterated a “sell” rating on shares of Maxim Integrated Products in a research note on Friday, February 8th. Finally, Bank of America lowered shares of Maxim Integrated Products from a “buy” rating to a “neutral” rating in a research note on Friday, January 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $59.67.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $57.00, for a total transaction of $570,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph R. Bronson sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $54.67, for a total transaction of $273,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,316 shares of company stock worth $3,395,474 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sciencast Management LP purchased a new stake in Maxim Integrated Products during the first quarter worth $1,814,000. Ridgewood Investments LLC boosted its holdings in Maxim Integrated Products by 19.5% during the first quarter. Ridgewood Investments LLC now owns 13,485 shares of the semiconductor company’s stock worth $717,000 after buying an additional 2,199 shares in the last quarter. Virtu Financial LLC purchased a new stake in Maxim Integrated Products during the first quarter worth $533,000. Narwhal Capital Management boosted its holdings in Maxim Integrated Products by 16.9% during the first quarter. Narwhal Capital Management now owns 46,182 shares of the semiconductor company’s stock worth $2,455,000 after buying an additional 6,677 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Maxim Integrated Products during the first quarter worth $292,000. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ MXIM opened at $59.89 on Wednesday. Maxim Integrated Products has a 1 year low of $46.64 and a 1 year high of $63.68. The firm has a market cap of $16.14 billion, a P/E ratio of 22.10, a PEG ratio of 2.07 and a beta of 1.31. The company has a current ratio of 6.54, a quick ratio of 5.85 and a debt-to-equity ratio of 0.57.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. The firm had revenue of $576.91 million for the quarter, compared to analysts’ expectations of $590.50 million. On average, research analysts anticipate that Maxim Integrated Products will post 2.44 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.thelincolnianonline.com/2019/04/17/stock-traders-buy-large-volume-of-call-options-on-maxim-integrated-products-mxim.html.

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.

Read More: How Investors Use a Balance Sheet

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.