Maxim Integrated Products, Inc. (NASDAQ:MXIM) has been the object of insider selling activity recently. Christopher J. Neil, SENIOR VP reported the sale of 3,500 shares of (MXIM). The shares were purchased at an average price of $45.69. The SENIOR VP now owns $6,286,624 of the stock according to the SEC filing. Tunc Doluca, PRESIDENT, CEO & DIRECTOR disclosed the sale of 6,000 shares of MXIM stock. The shares were sold on June 6th for an average price of $49.00. Doluca now owns $63,013,069 of the stock per the Form 4 SEC filing.
Tunc Doluca, PRESIDENT, CEO & DIRECTOR disclosed the sale of 15,000 shares. The shares were purchased at an average price of $47.76. The PRESIDENT, CEO & DIRECTOR now owns $61,705,013 of the stock per the Form 4 SEC filing.
Maxim Integrated Products, Inc., launched on August 19, 1987, is involved 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. The Company offers a range of products, such as switching regulators, battery management, isolated power, charge pumps, linear regulators, light emitting diode (LED) drivers, motor driver integrated circuits (ICs), monitors and sequencers, transceivers, controllers and expanders, level translators, signal line protection ICs, broadband switches, universal serial bus (USB) products, current loop products, powerline communications, real-time clocks, embedded security, microcontrollers, 1-Wire, iButton, data loggers, clock generation and distribution, memory products, optical, signal integrity, high-speed signaling, and display power and control..
Here are a few other firms who have also updated their positions. Cullinan Associates Inc cut its position by selling 7,100 shares a decrease of 3.2% from 12/31/2016 to 06/30/2017. Cullinan Associates Inc now controls 214,501 shares valued at $9,631,000. The value of the position overall is up by 12.7%. Clinton Group Inc divested its stake by shedding 49,064 shares a decrease of 41.0% as of 03/31/2017. Clinton Group Inc owns 70,475 shares worth $3,168,000. The total value of its holdings decreased 31.3%.
As of the end of the quarter Trust Co Of Vermont had sold a total of 25 shares trimming its position 0.2%. The value of the investment in MXIM went from $747,000 to $745,000 a change of $2,000 quarter over quarter. As of quarter end Gateway Investment Advisers LLC had acquired 181 shares growing its stake by 2.1%. The value in dollars increased from $391,000 to $398,000 increasing 1.8% quarter to quarter.
Loop Capital initiated coverage on MXIM with an initial rating of “Buy”. On September 7 the company was rated “Sector Perform” according to a RBC Capital report a cut from the previous “Outperform” rating.
On August 31 Barclays held the stock rating at “Equal-weight” and raised the price target from $35.00 to $42.00. July 25 investment analysts at UBS left the stock rating at “Neutral” but raised the price expectation to $40.00 from $33.25.
July 20 investment analysts at Barclays left the company rating at “Equalweight” but raised the price target to $35.00 from $34.00. On July 19 the stock rating was downgraded to “Market Perform” from “Outperform” in a statement from BMO Capital.
The company is so far trading up since yesterday’s close of $46.16. Additionally the company declared a dividend that was paid on Thursday the 15th of June 2017. The dividend was $0.330 per share for the quarter or $1.32 on an annualized basis. This dividend amount represented a yeild of $2.89. The ex-dividend date was Tuesday the 30th of May 2017.
It is currently trading at $46.70 marginally under $46.83, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $44.29. The 50 day moving average went down by -0.27% whereas the 200 day moving average was up $2.41 or +5.44%.
The P/E ratio is 26.84 and the market cap of the company is 13.19B. In the last earnings report the EPS was $1.74 and is estimated to be $2.12 for the current year with 282,544,000 shares outstanding. Next quarter’s EPS is estimated at $0.58 and the next full year EPS is anticipated to be $2.37.
Investors are feeling more bearish on shares of the company lately considering the rise in short interest. The firm recorded a rise in short interest of 14.91% as of May 31, 2017 from the last reporting period. Short interest grew from 3,417,090 to 3,926,470 over that period. Days to cover decreased 0.0 to 1.7 and the percentage of shorted shares was 0.01% on May 31.