Maxim Integrated Products Inc. (NASDAQ:MXIM) declared a quarterly dividend on Friday, April 21st. Shareholders of record on Thursday, June 1st will be given a dividend of 0.33 per share by the semiconductor company on Thursday, June 15th. This represents a $1.32 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, May 30th.
Maxim Integrated Products has raised its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Maxim Integrated Products has a payout ratio of 64.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Maxim Integrated Products to earn $2.32 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 56.9%.
Maxim Integrated Products (NASDAQ:MXIM) traded down 1.17% during trading on Friday, reaching $44.92. 7,955,728 shares of the company’s stock were exchanged. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 26.03 and a beta of 1.14. Maxim Integrated Products has a 12 month low of $33.38 and a 12 month high of $46.22. The firm’s 50-day moving average price is $44.86 and its 200-day moving average price is $41.78.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The firm earned $581 million during the quarter, compared to the consensus estimate of $575.83 million. Maxim Integrated Products had a return on equity of 24.82% and a net margin of 22.39%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, equities research analysts anticipate that Maxim Integrated Products will post $2.04 EPS for the current year.
In related news, insider Bryan Preeshl sold 1,243 shares of Maxim Integrated Products stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $44.92, for a total transaction of $55,835.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Vivek Jain sold 21,044 shares of Maxim Integrated Products stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $42.33, for a total value of $890,792.52. The disclosure for this sale can be found here. Insiders have sold 202,058 shares of company stock worth $8,933,685 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on MXIM shares. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price target (up previously from $45.00) on shares of Maxim Integrated Products in a research report on Tuesday, January 31st. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price target (up previously from $44.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. Evercore ISI reiterated an “in-line” rating on shares of Maxim Integrated Products in a research report on Friday. MKM Partners started coverage on Maxim Integrated Products in a research report on Friday, April 7th. They set a “neutral” rating and a $48.00 price target for the company. Finally, Drexel Hamilton reiterated a “buy” rating and set a $52.00 price target (up previously from $46.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.50.
Maxim Integrated Products Company Profile
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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