Smith Salley & Associates lowered its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,706 shares of the semiconductor company’s stock after selling 2,794 shares during the period. Smith Salley & Associates’ holdings in Maxim Integrated Products were worth $2,915,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Maxim Integrated Products by 11.2% during the 1st quarter. Royal Bank of Canada now owns 85,496 shares of the semiconductor company’s stock valued at $5,147,000 after buying an additional 8,578 shares in the last quarter. Allianz Asset Management GmbH increased its position in Maxim Integrated Products by 13.2% during the 1st quarter. Allianz Asset Management GmbH now owns 505,080 shares of the semiconductor company’s stock valued at $30,416,000 after buying an additional 58,807 shares in the last quarter. DnB Asset Management AS increased its position in Maxim Integrated Products by 3.6% during the 2nd quarter. DnB Asset Management AS now owns 37,439 shares of the semiconductor company’s stock valued at $2,196,000 after buying an additional 1,300 shares in the last quarter. IFM Investors Pty Ltd increased its position in Maxim Integrated Products by 43.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 13,221 shares of the semiconductor company’s stock valued at $776,000 after buying an additional 3,985 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in Maxim Integrated Products by 11.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 44,759 shares of the semiconductor company’s stock valued at $2,626,000 after buying an additional 4,500 shares in the last quarter. 90.73% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. JPMorgan Chase & Co. increased their target price on Maxim Integrated Products from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. KeyCorp increased their target price on Maxim Integrated Products from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, MKM Partners increased their target price on Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus target price of $60.76.
In other news, VP Sumeet Gagneja sold 471 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $60.74, for a total value of $28,608.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,905 shares of company stock worth $1,116,669. Company insiders own 0.85% of the company’s stock.
Shares of MXIM opened at $52.09 on Friday. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52. Maxim Integrated Products Inc. has a 12 month low of $46.85 and a 12 month high of $74.94. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.67 and a beta of 1.28.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $638.50 million for the quarter, compared to the consensus estimate of $635.19 million. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. On average, equities research analysts expect that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.53%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 67.90%.
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Maxim Integrated Products Company 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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