Maxim Integrated Products Inc. (NASDAQ:MXIM) saw a significant drop in short interest during the month of February. As of February 12th, there was short interest totalling 4,930,667 shares, a drop of 20.4% from the January 29th total of 6,193,069 shares, MarketBeat.Com reports. Approximately 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 2,761,575 shares, the days-to-cover ratio is presently 1.8 days.

Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at 33.90 on Monday. The stock’s 50 day moving average is $32.41 and its 200-day moving average is $35.39. The stock has a market capitalization of $9.71 billion and a price-to-earnings ratio of 57.07. Maxim Integrated Products has a 52 week low of $29.47 and a 52 week high of $42.18.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, January 21st. The company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $510.80 million for the quarter, compared to analyst estimates of $505.08 million. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. On average, analysts anticipate that Maxim Integrated Products will post $1.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 3rd. Stockholders of record on Thursday, February 18th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, February 16th.

In related news, VP David Caron sold 16,020 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $33.30, for a total value of $533,466.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Bergman sold 27,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $31.81, for a total transaction of $866,822.50. Following the completion of the transaction, the director now directly owns 96,600 shares in the company, valued at approximately $3,072,846.

Other hedge funds and institutional investors have made changes to their positions in the company. First American Bank increased its position in shares of Maxim Integrated Products by 3.0% in the fourth quarter. First American Bank now owns 97,096 shares of the company’s stock valued at $3,689,000 after buying an additional 2,854 shares during the last quarter. Janus Capital Management increased its position in shares of Maxim Integrated Products by 144.0% in the third quarter. Janus Capital Management now owns 38,900 shares of the company’s stock valued at $1,299,000 after buying an additional 22,956 shares during the last quarter. Finally, CIBC World Markets acquired a new position in shares of Maxim Integrated Products during the fourth quarter valued at $1,392,000.

A number of equities research analysts have commented on the stock. Barclays decreased their target price on shares of Maxim Integrated Products from $34.00 to $33.00 in a research note on Thursday, January 14th. Maxim Group upgraded shares of Maxim Integrated Products from a “neutral” rating to a “buy” rating in a research note on Thursday, December 10th. RBC Capital restated a “hold” rating and set a $35.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 22nd. Oppenheimer restated a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, January 22nd. Finally, B. Riley restated a “hold” rating and set a $31.00 target price on shares of Maxim Integrated Products in a research note on Saturday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Maxim Integrated Products has an average rating of “Buy” and a consensus price target of $37.73.

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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.

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