Texas Permanent School Fund trimmed its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,531 shares of the semiconductor company’s stock after selling 2,006 shares during the quarter. Texas Permanent School Fund’s holdings in Maxim Integrated Products were worth $2,926,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FTB Advisors Inc. acquired a new position in Maxim Integrated Products during the third quarter worth $29,000. Coastal Investment Advisors Inc. raised its stake in Maxim Integrated Products by 97.5% during the second quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 276 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in Maxim Integrated Products by 58.8% during the third quarter. TCI Wealth Advisors Inc. now owns 670 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 248 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Maxim Integrated Products by 175.7% during the second quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 469 shares in the last quarter. Finally, Anderson Fisher LLC increased its stake in shares of Maxim Integrated Products by 551.2% in the second quarter. Anderson Fisher LLC now owns 788 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 667 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.
Maxim Integrated Products stock opened at $59.60 on Friday. The business’s 50-day simple moving average is $57.96 and its 200 day simple moving average is $57.52. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 2.34 and a beta of 1.41. Maxim Integrated Products Inc. has a 12-month low of $46.64 and a 12-month high of $65.73. The company has a quick ratio of 6.39, a current ratio of 7.08 and a debt-to-equity ratio of 0.56.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $530.99 million. Maxim Integrated Products had a return on equity of 34.55% and a net margin of 34.87%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. As a group, sell-side analysts expect that Maxim Integrated Products Inc. will post 2.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Maxim Integrated Products’s dividend payout ratio is 79.01%.
In related news, CEO Tunc Doluca sold 19,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $60.83, for a total value of $1,155,770.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Edward Grady sold 6,575 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $52.63, for a total value of $346,042.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,468 shares of company stock worth $7,146,585. 0.84% of the stock is owned by company insiders.
MXIM has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Maxim Integrated Products from $61.00 to $56.00 in a research note on Thursday, August 29th. Bank of America raised their target price on Maxim Integrated Products from $60.00 to $65.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Maxim Group lowered Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a research note on Friday, September 27th. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $59.00 target price for the company. in a research note on Thursday, October 3rd. Finally, BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Maxim Integrated Products presently has a consensus rating of “Hold” and an average target price of $62.08.
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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