Maxim Integrated Products (MXIM) NewsBite - MXIM Dropping On Weak Profits

Maxim Integrated Products (NasdaqNM: MXIM) opened at $16.88. So far today, the stock has hit a low of $16.82 and a high of $17.62. MXIM is now trading at $17.06, down $.80 (-4.48%). The stock hit its 52-Week high of $19.43 in September and set its 52-Week low of $10.72 in November. Maxim is trading lower despite the company posting 13 cents per share this morning, which was above the 14 cents that analysts had been expecting to see. The stock is selling off today as analysts deal with the company showing a 38% dip in profit. Technical indicators for the stock are neutral and S&P gives MXIM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MXIM the stock seems like it could be a candidate for a February out-of-the-money bear-call credit spread above the 20 range.

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Related terms: profit, S&P