SSgA Funds Management, Inc. recently announced the acquisition of new stake in Maxim Integrated Products Inc. (NASDAQ:MXIM). The institutional investor has increased its shareholding in the Technology company by 3.42% to 12.15 million shares with purchase of 0.4 million shares. This fresh investment now brings its stake to 4.56% valued currently at $827.42 million. In addition, American Century Investment Manag.. raised its holdings by 48066.0 to 8.2 million shares. And FIL Investment Advisors (UK) Ltd. has lifted its position by 5.39% or 0.21 million shares – to 4.09 million shares.
With over 7.85 million Maxim Integrated Products Inc. (MXIM) shares trading Monday and a closing price of $68.44 on the day, the dollar volume was approximately $537.29 million. The shares have shown a negative weekly performance of -0.96% and its price on 08/31/20 lost nearly -2.53%. Currently, there are 266.64M common shares owned by the public and among those 265.10M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for MXIM have a consensus price objective of $74.97. The analysts have set the share’s price value over the next 12 months at a high of $81.00 and a low of $70.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Maxim Integrated Products Inc. stock is 2.80 for the next 12 months. The average price target is 5.61% above its last price level and an upside to the estimated low will see the stock gain 2.23% over that period. But an upside of 15.51% will see the stock hit the forecast high price target while mean target price for the stock is $74.00.
Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 317,462 shares. Insider sales of the common stock occurred on 95 occasions, with total insider shares sold totaling 479,745 shares.
The top 3 mutual fund holders in Maxim Integrated Products Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and T Rowe Price Capital Appreciation. Vanguard Total Stock Market Index owns 7.57 million shares of the company’s stock, all valued at over $515.38 million. The company sold 37525.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. Vanguard Mid Cap Index Fund sold 54661.0 shares to see its total holdings shrink to 6.54 million shares valued at over $445.37 million and representing 2.45% of the shares outstanding. T Rowe Price Capital Appreciation sold -3.22 million shares to bring its total holdings to over 5.6 million shares at a value of $381.37 million. T Rowe Price Capital Appreciation now owns shares totaling to 2.10% of the shares outstanding.
Shares of Maxim Integrated Products Inc. (NASDAQ: MXIM) opened at $69.45, down -$0.77 from a prior closing price of $70.22. However, the script later closed the day at $68.44, down -2.53%. The company’s stock has a 5-day price change of -0.96% and 16.59% over the past three months. MXIM shares are trading 11.27% year to date (YTD), with the 12-month market performance up to 25.49% higher. It has a 12-month low price of $41.93 and touched a high of $73.52 over the same period. Currently, 7.85 million shares have been traded, compared to an average intraday trading volume of 3.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.19%, 2.47%, and 15.52% respectively.
Institutional ownership of Maxim Integrated Products Inc. (NASDAQ: MXIM) shares accounts for 94.10% of the company’s 266.64M shares outstanding. Mutual fund holders own 31.07%, while other institutional holders and individual stakeholders account for 61.26% and 2.68% respectively.
It has a market capitalization of $18.21B and a beta (3y monthly) value of 1.36. The stock’s trailing 12-month PE ratio is 28.39, while the earnings-per-share (ttm) stands at $2.41. The company has a PEG of 4.72 and a Quick Ratio of 4.50 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.11% over the week and 1.76% over the month.
Analysts forecast that Maxim Integrated Products Inc. (MXIM) will achieve an EPS of $0.58 for the current quarter, $0.58 for the next quarter and $2.73 for 2022. The lowest estimate earnings-per-share for the quarter is $0.48 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.52 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.00%, and 11.52% over the next financial year. EPS should shrink at an annualized rate of 6.02% over the next five years, compared to 27.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Maxim Integrated Products Inc. (MXIM) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 16 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MXIM, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on April 29, 2020, with the firm’s price target at $51-$55. Nomura coverage for the Maxim Integrated Products Inc. (MXIM) stock in a research note released on March 20, 2020 offered a Neutral rating with a price target of $50. Cowen was of a view on January 29, 2020 that the stock is Market Perform, while Barclays gave the stock Underweight rating on January 16, 2020, issuing a price target of $60. Cowen on their part issued Market Perform rating on October 30, 2019.