Maxim Integrated Products Inc. (NASDAQ:MXIM) Short Interest Down 13.0% in October

Maxim Integrated Products Inc. (NASDAQ:MXIM) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,840,000 shares, a drop of 13.0% from the September 30th total of 6,710,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 1,640,000 shares, the days-to-cover ratio is currently 3.6 days.

In other Maxim Integrated Products news, Director William D. Watkins sold 8,310 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $54.62, for a total value of $453,892.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Edward Grady sold 2,500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $54.63, for a total transaction of $136,575.00. The disclosure for this sale can be found here. Insiders sold a total of 116,893 shares of company stock worth $6,800,543 in the last quarter. Insiders own 0.84% of the company’s stock.

Several institutional investors have recently modified their holdings of MXIM. Cetera Investment Advisers boosted its position in Maxim Integrated Products by 50.9% in the third quarter. Cetera Investment Advisers now owns 6,407 shares of the semiconductor company’s stock valued at $371,000 after buying an additional 2,162 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in Maxim Integrated Products in the third quarter valued at about $212,000. Goelzer Investment Management Inc. boosted its position in Maxim Integrated Products by 0.3% in the third quarter. Goelzer Investment Management Inc. now owns 123,759 shares of the semiconductor company’s stock valued at $7,167,000 after buying an additional 336 shares in the last quarter. Rational Advisors LLC boosted its position in Maxim Integrated Products by 10,250.7% in the third quarter. Rational Advisors LLC now owns 7,142 shares of the semiconductor company’s stock valued at $413,000 after buying an additional 7,073 shares in the last quarter. Finally, Shoker Investment Counsel Inc. boosted its position in Maxim Integrated Products by 1.4% in the third quarter. Shoker Investment Counsel Inc. now owns 24,270 shares of the semiconductor company’s stock valued at $1,405,000 after buying an additional 338 shares in the last quarter. Institutional investors and hedge funds own 92.72% of the company’s stock.

Several analysts have issued reports on MXIM shares. Citigroup set a $62.00 price target on shares of Maxim Integrated Products and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Cowen raised their price target on shares of Maxim Integrated Products from $57.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Benchmark started coverage on shares of Maxim Integrated Products in a research report on Thursday, August 1st. They issued a “hold” rating on the stock. Stifel Nicolaus decreased their price target on shares of Maxim Integrated Products from $61.00 to $56.00 in a research report on Thursday, August 29th. Finally, ValuEngine upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $62.08.

Shares of Maxim Integrated Products stock opened at $57.81 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.39 and a current ratio of 7.08. The firm’s 50-day simple moving average is $58.11 and its 200-day simple moving average is $57.49. Maxim Integrated Products has a twelve month low of $46.64 and a twelve month high of $65.73. The firm has a market cap of $15.64 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 2.23 and a beta of 1.41.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. Maxim Integrated Products had a net margin of 34.87% and a return on equity of 34.55%. The business had revenue of $553.00 million for the quarter, compared to analyst estimates of $530.99 million. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was down 13.3% on a year-over-year basis. On average, equities analysts forecast that Maxim Integrated Products will post 2.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, November 26th. This represents a $1.92 annualized dividend and a dividend yield of 3.32%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 79.01%.

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.

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