Verition Fund Management LLC Takes Position in Maxim Integrated Products Inc. (NASDAQ:MXIM)

Verition Fund Management LLC purchased a new stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,664 shares of the semiconductor company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MXIM. Public Employees Retirement Association of Colorado grew its position in shares of Maxim Integrated Products by 2.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 36,627 shares of the semiconductor company’s stock valued at $1,780,000 after purchasing an additional 1,010 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Maxim Integrated Products by 8.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,448 shares of the semiconductor company’s stock valued at $3,376,000 after purchasing an additional 5,618 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Maxim Integrated Products by 18.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,285 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 202 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Maxim Integrated Products by 198.0% during the 1st quarter. AE Wealth Management LLC now owns 27,850 shares of the semiconductor company’s stock valued at $1,354,000 after purchasing an additional 18,504 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Maxim Integrated Products by 4.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 52,316 shares of the semiconductor company’s stock valued at $2,543,000 after purchasing an additional 2,270 shares in the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.

Shares of MXIM stock opened at $67.09 on Wednesday. Maxim Integrated Products Inc. has a 12-month low of $41.93 and a 12-month high of $73.52. The company has a current ratio of 5.11, a quick ratio of 4.54 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $68.65 and its 200 day moving average is $59.28. The stock has a market capitalization of $17.89 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.66 and a beta of 1.33.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The business had revenue of $545.37 million for the quarter, compared to the consensus estimate of $542.66 million. Maxim Integrated Products had a net margin of 29.88% and a return on equity of 36.29%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. As a group, equities analysts predict that Maxim Integrated Products Inc. will post 2.48 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.48 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.86%. Maxim Integrated Products’s payout ratio is currently 84.96%.

MXIM has been the subject of several research reports. Goldman Sachs Group upgraded shares of Maxim Integrated Products from a “sell” rating to a “neutral” rating and upped their target price for the stock from $59.00 to $70.00 in a research report on Wednesday, July 15th. Susquehanna Bancshares lowered shares of Maxim Integrated Products from a “positive” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Monday, July 13th. Stifel Nicolaus upped their target price on shares of Maxim Integrated Products from $71.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Oppenheimer initiated coverage on shares of Maxim Integrated Products in a research report on Wednesday, June 10th. They issued a “hold” rating for the company. Finally, Maxim Group lowered shares of Maxim Integrated Products from a “positive” rating to a “neutral” rating in a research report on Monday, July 13th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. Maxim Integrated Products currently has a consensus rating of “Hold” and an average price target of $65.88.

In related news, Director Robert Edward Grady sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $67.02, for a total transaction of $804,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tunc Doluca sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $62.00, for a total transaction of $155,000.00. The disclosure for this sale can be found here. Insiders sold a total of 122,010 shares of company stock valued at $8,372,345 over the last three months. Corporate insiders own 0.84% of the company’s stock.

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

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