PGGM Investments lessened its position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,661 shares of the semiconductor company’s stock after selling 47,659 shares during the period. PGGM Investments’ holdings in Maxim Integrated Products were worth $2,760,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AE Wealth Management LLC acquired a new position in Maxim Integrated Products during the 2nd quarter worth approximately $368,000. OLD National Bancorp IN grew its holdings in Maxim Integrated Products by 8.5% during the 2nd quarter. OLD National Bancorp IN now owns 53,480 shares of the semiconductor company’s stock worth $3,199,000 after acquiring an additional 4,186 shares in the last quarter. FineMark National Bank & Trust acquired a new position in Maxim Integrated Products during the 2nd quarter worth approximately $224,000. Envestnet Asset Management Inc. grew its holdings in Maxim Integrated Products by 59.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 127,107 shares of the semiconductor company’s stock worth $7,604,000 after acquiring an additional 47,205 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in Maxim Integrated Products during the 2nd quarter worth approximately $214,000. Institutional investors own 92.46% of the company’s stock.
Several research analysts have commented on the stock. Bank of America cut shares of Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a report on Friday, September 27th. Cowen restated a “market perform” rating and issued a $57.00 target price (down previously from $63.00) on shares of Maxim Integrated Products in a report on Wednesday, July 31st. BidaskClub upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 3rd. Maxim Group cut shares of Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a report on Friday, September 27th. Finally, ValuEngine cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Maxim Integrated Products currently has an average rating of “Hold” and an average target price of $60.33.
Shares of Maxim Integrated Products stock traded down $0.76 during trading hours on Wednesday, hitting $57.75. The company had a trading volume of 877,458 shares, compared to its average volume of 1,386,416. The company’s 50-day moving average is $56.92 and its two-hundred day moving average is $57.36. Maxim Integrated Products Inc. has a twelve month low of $46.64 and a twelve month high of $65.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 6.84 and a quick ratio of 6.18. The company has a market cap of $15.65 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.40.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $557.00 million during the quarter, compared to analysts’ expectations of $559.97 million. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. Maxim Integrated Products’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Sell-side analysts expect that Maxim Integrated Products Inc. will post 2.19 EPS for the current year.
In related news, VP Vivek Jain sold 12,683 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $54.92, for a total transaction of $696,550.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bruce E. Kiddoo sold 10,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $57.21, for a total transaction of $572,100.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,568 shares of company stock valued at $6,837,472. 0.84% of the stock is owned by company insiders.
About Maxim Integrated Products
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.
Recommended Story: Calculate Your Return on Investment (ROI)
Want to see what other hedge funds are holding MXIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maxim Integrated Products Inc. (NASDAQ:MXIM).
Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.