Pinebridge Investments L.P. raised its position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 82,012 shares of the semiconductor company’s stock after buying an additional 940 shares during the quarter. Pinebridge Investments L.P.’s holdings in Maxim Integrated Products were worth $4,906,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Coastal Investment Advisors Inc. increased its holdings in Maxim Integrated Products by 97.5% in the second quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 276 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in Maxim Integrated Products by 175.7% in the second quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 469 shares during the last quarter. AGF Investments LLC bought a new stake in Maxim Integrated Products in the second quarter valued at about $53,000. Parallel Advisors LLC increased its holdings in Maxim Integrated Products by 43.8% in the second quarter. Parallel Advisors LLC now owns 903 shares of the semiconductor company’s stock valued at $54,000 after buying an additional 275 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Maxim Integrated Products in the second quarter valued at about $113,000. 95.25% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Edwin Medlin sold 22,500 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $59.77, for a total value of $1,344,825.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tunc Doluca sold 7,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $61.16, for a total value of $428,120.00. The disclosure for this sale can be found here. Insiders sold a total of 114,568 shares of company stock valued at $6,581,292 over the last three months. Corporate insiders own 0.85% of the company’s stock.
Several analysts recently weighed in on the company. Citigroup set a $62.00 price objective on Maxim Integrated Products and gave the company a “hold” rating in a report on Wednesday, July 31st. Benchmark assumed coverage on Maxim Integrated Products in a report on Thursday, August 1st. They issued a “hold” rating for the company. BidaskClub raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 3rd. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 target price for the company. in a report on Thursday, July 25th. Finally, Stifel Nicolaus lowered their target price on Maxim Integrated Products from $61.00 to $56.00 in a report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.44.
Shares of NASDAQ:MXIM traded down $0.19 during trading on Friday, hitting $59.59. 1,273,796 shares of the company traded hands, compared to its average volume of 1,721,514. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.33 and a beta of 1.39. The business’s fifty day moving average is $56.09 and its 200-day moving average is $56.78. Maxim Integrated Products Inc. has a one year low of $46.64 and a one year high of $65.73. The company has a quick ratio of 6.18, a current ratio of 6.84 and a debt-to-equity ratio of 0.54.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.97 million. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 earnings per share. On average, analysts forecast that Maxim Integrated Products Inc. will post 2.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, August 28th. Maxim Integrated Products’s dividend payout ratio is 79.01%.
Maxim Integrated Products 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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