Texas Permanent School Fund Has $2.83 Million Position in Maxim Integrated Products Inc. (MXIM)

Texas Permanent School Fund decreased its holdings in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,189 shares of the semiconductor company’s stock after selling 2,539 shares during the period. Texas Permanent School Fund’s holdings in Maxim Integrated Products were worth $2,828,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Trust Co. of Vermont lifted its stake in Maxim Integrated Products by 2.4% in the first quarter. Trust Co. of Vermont now owns 69,697 shares of the semiconductor company’s stock worth $3,706,000 after purchasing an additional 1,661 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Maxim Integrated Products by 8.7% during the first quarter. Eagle Asset Management Inc. now owns 1,220,070 shares of the semiconductor company’s stock worth $64,871,000 after acquiring an additional 98,038 shares during the period. Patriot Investment Management Inc. purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $624,000. Pendal Group Ltd increased its position in shares of Maxim Integrated Products by 94.3% during the first quarter. Pendal Group Ltd now owns 8,470 shares of the semiconductor company’s stock worth $450,000 after acquiring an additional 4,111 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Maxim Integrated Products by 0.9% during the first quarter. Janus Henderson Group PLC now owns 466,428 shares of the semiconductor company’s stock worth $24,798,000 after acquiring an additional 3,956 shares during the period. 98.20% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Tunc Doluca sold 7,000 shares of Maxim Integrated Products stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $60.31, for a total transaction of $422,170.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bruce E. Kiddoo sold 8,062 shares of Maxim Integrated Products stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $55.60, for a total transaction of $448,247.20. The disclosure for this sale can be found here. Insiders sold 72,352 shares of company stock worth $4,172,270 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

NASDAQ MXIM traded down $0.46 on Thursday, hitting $54.33. The stock had a trading volume of 43,886 shares, compared to its average volume of 1,996,250. The company has a current ratio of 6.46, a quick ratio of 5.77 and a debt-to-equity ratio of 0.60. Maxim Integrated Products Inc. has a 52-week low of $46.64 and a 52-week high of $63.68. The firm has a market capitalization of $14.60 billion, a P/E ratio of 19.86, a P/E/G ratio of 1.87 and a beta of 1.35.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. Maxim Integrated Products had a net margin of 27.36% and a return on equity of 40.16%. The business had revenue of $542.38 million for the quarter, compared to analyst estimates of $540.17 million. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, May 29th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

A number of brokerages have recently commented on MXIM. ValuEngine lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. BidaskClub lowered shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Bank of America reissued a “neutral” rating and set a $67.00 price objective (up from $60.00) on shares of Maxim Integrated Products in a report on Wednesday, May 1st. Finally, MKM Partners lifted their price objective on shares of Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Maxim Integrated Products currently has an average rating of “Hold” and an average target price of $61.83.

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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.

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Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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