Maxim Integrated Products, Inc. (MXIM) Shares Sold by Payden & Rygel

Payden & Rygel lowered its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 438,600 shares of the semiconductor company’s stock after selling 4,100 shares during the period. Maxim Integrated Products comprises 2.1% of Payden & Rygel’s portfolio, making the stock its 11th largest holding. Payden & Rygel owned 0.16% of Maxim Integrated Products worth $20,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Maxim Integrated Products by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares in the last quarter. Highstreet Asset Management Inc. purchased a new stake in shares of Maxim Integrated Products in the second quarter valued at about $115,000. Acrospire Investment Management LLC lifted its holdings in shares of Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Maxim Integrated Products in the third quarter valued at about $128,000. Finally, IFP Advisors Inc lifted its holdings in shares of Maxim Integrated Products by 68.5% in the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 1,266 shares in the last quarter. 90.48% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Tunc Doluca sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $52.16, for a total value of $1,564,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Neil sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $47.50, for a total transaction of $166,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 203,527 shares of company stock valued at $10,587,830. Company insiders own 1.11% of the company’s stock.

Maxim Integrated Products, Inc. (MXIM) opened at $51.50 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.14 and a quick ratio of 13.09. The firm has a market cap of $14,535.97, a P/E ratio of 22.95, a PEG ratio of 2.02 and a beta of 1.10. Maxim Integrated Products, Inc. has a 52-week low of $38.18 and a 52-week high of $55.43.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. analysts forecast that Maxim Integrated Products, Inc. will post 2.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, November 29th. Maxim Integrated Products’s dividend payout ratio is presently 70.24%.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Citigroup upped their price target on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. B. Riley upped their price target on shares of Maxim Integrated Products from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 20th. Stifel Nicolaus upped their price target on shares of Maxim Integrated Products from $54.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Drexel Hamilton upped their price target on shares of Maxim Integrated Products from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. Maxim Integrated Products currently has an average rating of “Hold” and an average target price of $52.14.

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Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.

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

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