Maxim Integrated Products Inc. (NASDAQ:MXIM) declared a quarterly dividend on Tuesday, October 30th, Zacks reports. Stockholders of record on Thursday, November 29th will be paid a dividend of 0.46 per share by the semiconductor company on Thursday, December 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Wednesday, November 28th.
Maxim Integrated Products has raised its dividend by an average of 8.5% per year over the last three years and has raised its dividend every year for the last 8 years. Maxim Integrated Products has a dividend payout ratio of 59.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Maxim Integrated Products to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 62.2%.
Shares of NASDAQ MXIM opened at $52.49 on Friday. The stock has a market capitalization of $14.54 billion, a PE ratio of 19.37, a P/E/G ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.57 and a quick ratio of 3.27. Maxim Integrated Products has a fifty-two week low of $46.85 and a fifty-two week high of $74.94.
In related news, Director James R. Bergman sold 4,400 shares of Maxim Integrated Products stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $53.24, for a total transaction of $234,256.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Loftus sold 6,623 shares of Maxim Integrated Products stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $60.01, for a total value of $397,446.23. The disclosure for this sale can be found here. Insiders have sold 21,023 shares of company stock valued at $1,210,602 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on MXIM. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Stifel Nicolaus raised their price objective on Maxim Integrated Products from $73.00 to $75.00 and gave the company a “buy” rating in a report on Friday, July 27th. MKM Partners raised their price objective on Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a report on Friday, July 27th. BMO Capital Markets lifted their price target on Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Finally, Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “strong-buy” rating and set a $70.00 price target for the company in a report on Monday, July 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.76.
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, 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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