Chicago Equity Partners LLC lessened its holdings in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 55.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,425 shares of the semiconductor company’s stock after selling 69,005 shares during the quarter. Chicago Equity Partners LLC’s holdings in Maxim Integrated Products were worth $2,768,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of MXIM. Avitas Wealth Management LLC boosted its stake in shares of Maxim Integrated Products by 4.5% during the 3rd quarter. Avitas Wealth Management LLC now owns 57,193 shares of the semiconductor company’s stock valued at $3,225,000 after buying an additional 2,454 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Maxim Integrated Products by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 28,025,275 shares of the semiconductor company’s stock valued at $1,580,346,000 after buying an additional 150,909 shares during the last quarter. Kepos Capital LP purchased a new position in shares of Maxim Integrated Products during the 3rd quarter valued at approximately $3,075,000. Conning Inc. boosted its stake in shares of Maxim Integrated Products by 4.9% during the 4th quarter. Conning Inc. now owns 138,822 shares of the semiconductor company’s stock valued at $7,059,000 after buying an additional 6,517 shares during the last quarter. Finally, Cullinan Associates Inc. boosted its stake in shares of Maxim Integrated Products by 5.3% during the 3rd quarter. Cullinan Associates Inc. now owns 262,400 shares of the semiconductor company’s stock valued at $14,797,000 after buying an additional 13,120 shares during the last quarter. 94.22% of the stock is owned by hedge funds and other institutional investors.
Shares of MXIM stock opened at $55.46 on Thursday. Maxim Integrated Products Inc. has a fifty-two week low of $46.64 and a fifty-two week high of $64.40. The stock has a market cap of $14.95 billion, a P/E ratio of 20.46, a PEG ratio of 1.91 and a beta of 1.35. The company has a quick ratio of 5.85, a current ratio of 6.54 and a debt-to-equity ratio of 0.57.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). Maxim Integrated Products had a net margin of 28.72% and a return on equity of 42.09%. The firm had revenue of $576.91 million for the quarter, compared to the consensus estimate of $590.50 million. As a group, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $1.84 annualized dividend and a yield of 3.32%. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.
In related news, CEO Tunc Doluca sold 2,500 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $55.79, for a total value of $139,475.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Wright sold 1,564 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $51.68, for a total value of $80,827.52. The disclosure for this sale can be found here. Insiders have sold 69,445 shares of company stock valued at $3,877,229 in the last ninety days. Company insiders own 0.85% of the company’s stock.
Several research firms have recently commented on MXIM. Bank of America cut Maxim Integrated Products from a “buy” rating to a “neutral” rating in a research note on Friday, January 4th. Citigroup reduced their target price on Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Barclays reduced their price objective on Maxim Integrated Products from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Finally, Loop Capital dropped their target price on Maxim Integrated Products to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $60.20.
Maxim Integrated Products Profile
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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