Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 114.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,400 shares of the semiconductor company’s stock after purchasing an additional 13,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Maxim Integrated Products were worth $1,376,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MXIM. Capital Advisors Ltd. LLC acquired a new stake in Maxim Integrated Products during the 3rd quarter valued at approximately $114,000. Legacy Advisors LLC acquired a new stake in Maxim Integrated Products during the 3rd quarter valued at approximately $116,000. Steward Partners Investment Advisory LLC grew its stake in Maxim Integrated Products by 91.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 989 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Maxim Integrated Products during the 3rd quarter valued at approximately $119,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Maxim Integrated Products during the 3rd quarter valued at approximately $133,000. Hedge funds and other institutional investors own 91.80% of the company’s stock.
In other news, Director James R. Bergman sold 4,400 shares of Maxim Integrated Products stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $53.24, for a total value of $234,256.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph R. Bronson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $58.98, for a total value of $294,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,540 shares of company stock valued at $3,221,251. Insiders own 0.85% of the company’s stock.
A number of equities research analysts have weighed in on MXIM shares. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. ValuEngine lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Stifel Nicolaus lowered Maxim Integrated Products from a “buy” rating to a “hold” rating and lowered their price objective for the company from $75.00 to $65.00 in a research note on Wednesday, September 12th. KeyCorp started coverage on Maxim Integrated Products in a research note on Tuesday, September 25th. They set a “sector weight” rating and a $68.00 price objective for the company. Finally, Zacks Investment Research lowered Maxim Integrated Products from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. Maxim Integrated Products presently has an average rating of “Hold” and a consensus target price of $60.76.
Shares of MXIM opened at $52.90 on Friday. The company has a market capitalization 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 52 week low of $46.85 and a 52 week high of $74.94.
Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The company 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 revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Equities analysts expect that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.48%. Maxim Integrated Products’s payout ratio is 67.90%.
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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