Maxim Integrated Products Inc. (NASDAQ:MXIM) Shares Sold by PGGM Investments

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.

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

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