Maxim Integrated Products, Inc. (NASDAQ:MXIM) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 15,110,000 shares, an increase of 23.0% from the March 31st total of 12,280,000 shares. Based on an average daily trading volume, of 2,240,000 shares, the short-interest ratio is currently 6.7 days. Currently, 5.7% of the shares of the company are short sold.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Maxim Integrated Products from a "buy" rating to a "hold" rating and set a $101.00 price objective on the stock. in a research note on Tuesday, February 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Maxim Integrated Products from $95.00 to $101.00 and gave the company a "buy" rating in a research note on Monday, January 25th. Jefferies Financial Group increased their price objective on shares of Maxim Integrated Products from $111.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, April 28th. Barclays increased their price objective on shares of Maxim Integrated Products from $74.00 to $95.00 in a report on Tuesday, January 26th. Finally, Royal Bank of Canada increased their price objective on shares of Maxim Integrated Products from $73.00 to $97.00 in a report on Wednesday, January 27th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Maxim Integrated Products has a consensus rating of "Hold" and an average target price of $83.67.
Shares of MXIM stock opened at $92.80 on Tuesday. The company has a quick ratio of 4.69, a current ratio of 5.28 and a debt-to-equity ratio of 0.58. Maxim Integrated Products has a 52 week low of $50.76 and a 52 week high of $98.48. The stock has a market capitalization of $24.87 billion, a PE ratio of 36.83, a P/E/G ratio of 3.38 and a beta of 1.27. The firm has a 50 day moving average of $93.49 and a two-hundred day moving average of $88.07.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, April 27th. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.74 by $0.08. The business had revenue of $665.03 million during the quarter, compared to analysts' expectations of $638.48 million. Maxim Integrated Products had a net margin of 30.03% and a return on equity of 39.85%. The company's revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Analysts expect that Maxim Integrated Products will post 2.82 EPS for the current fiscal year.
In other news, SVP Jon Imperato sold 1,251 shares of the firm's stock in a transaction on Friday, February 19th. The stock was sold at an average price of $97.74, for a total value of $122,272.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 14,000 shares of the firm's stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $93.91, for a total value of $1,314,740.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,908 shares of company stock worth $1,588,463. Company insiders own 0.57% of the company's stock.
Institutional investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in shares of Maxim Integrated Products during the 4th quarter worth $25,000. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Maxim Integrated Products during the 4th quarter worth $25,000. Arkadios Wealth Advisors purchased a new stake in shares of Maxim Integrated Products during the 4th quarter worth $27,000. CX Institutional raised its stake in Maxim Integrated Products by 50.6% during the 4th quarter. CX Institutional now owns 363 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 122 shares in the last quarter. Finally, Veriti Management LLC acquired a new stake in Maxim Integrated Products during the 4th quarter worth $45,000. 85.96% of the stock is owned by institutional investors and hedge funds.
About Maxim Integrated Products
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 various high-frequency process technologies and capabilities used in custom designs.
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