Dynamic Technology Lab Private Ltd bought a new position in Maxim Integrated Products Inc. (NASDAQ:MXIM) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 25,664 shares of the semiconductor company’s stock, valued at approximately $1,448,000.
Other institutional investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY raised its holdings in Maxim Integrated Products by 4.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock valued at $1,287,000 after acquiring an additional 902 shares during the period. PNC Financial Services Group Inc. raised its holdings in Maxim Integrated Products by 0.4% during the second quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock valued at $14,289,000 after acquiring an additional 913 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Maxim Integrated Products by 91.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 989 shares during the period. Argent Trust Co raised its holdings in Maxim Integrated Products by 27.3% during the second quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 1,019 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in Maxim Integrated Products by 11.7% during the third quarter. Ridgewood Investments LLC now owns 11,286 shares of the semiconductor company’s stock valued at $636,000 after acquiring an additional 1,186 shares during the period. 91.80% of the stock is currently owned by institutional investors.
A number of research firms have commented on MXIM. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Stifel Nicolaus cut Maxim Integrated Products from a “buy” rating to a “hold” rating and decreased their price target for the company from $75.00 to $65.00 in a report on Wednesday, September 12th. KeyCorp began coverage on Maxim Integrated Products in a report on Tuesday, September 25th. They set a “sector weight” rating and a $68.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Maxim Integrated Products currently has a consensus rating of “Hold” and an average price target of $60.76.
Shares of Maxim Integrated Products stock opened at $52.90 on Friday. The stock has a market cap of $15.19 billion, a PE ratio of 19.52, a PEG ratio of 1.74 and a beta of 1.34. The company has a quick ratio of 3.27, a current ratio of 3.57 and a debt-to-equity ratio of 0.52. Maxim Integrated Products Inc. has a twelve month low of $46.85 and a twelve month high of $74.94.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $638.50 million during the quarter, compared to analyst estimates of $635.19 million. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. Analysts anticipate that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be given a dividend of $0.46 per share. 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 3.48%. Maxim Integrated Products’s payout ratio is 67.90%.
In other news, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $56.58, for a total transaction of $1,414,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were 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. In the last 90 days, insiders have sold 56,540 shares of company stock valued at $3,221,251. Company insiders own 0.85% of the company’s stock.
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.
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