Insider Buying: Tunc Doluca Purchases 65,000 Shares of Maxim Integrated Products (MXIM)
Maxim Integrated Products Inc. (NASDAQ:MXIM) President and CEO Tunc Doluca purchased 65,000 shares of Maxim Integrated Products Inc. stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $12.82 per share, for a total transaction of $833,300.00. Following the completion of the purchase, the director now directly owns 1,170,983 shares of the company’s stock, valued at approximately $34,403,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Maxim Integrated Products Inc. (NASDAQ:MXIM) traded down 1.14% on Thursday, hitting $29.52. The stock had a trading volume of 487,169 shares. Maxim Integrated Products Inc. has a 52 week low of $27.18 and a 52 week high of $35.76. The stock has a 50-day moving average of $29.35 and a 200-day moving average of $29.52. The company has a market cap of $8.3 billion and a P/E ratio of 23.91.
The company also recently declared a quarterly dividend, which is scheduled for September 4, 2014. Shareholders of record on August 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is August 19th, 2014.
A number of research firms have recently commented on MXIM. Analysts at Nomura cut their price target on shares of Maxim Integrated Products Inc. from $31.00 to $28.00 in a research note on Friday, July 25th. Analysts at Morgan Stanley downgraded shares of Maxim Integrated Products Inc. in a research note on Wednesday, July 30th. They set a “Underweight” rating down from a “Equal Weight”
Maxim Integrated Products Inc. (NASDAQ:MXIM) is a Maxim Integrated Products, Inc. (Maxim) designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a number of customers in diverse geographical locations. The end-markets in which the Company sells its products are the industrial, communications, consumer and computing markets.