Patton Albertson Miller Group LLC lessened its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,470 shares of the semiconductor company’s stock after selling 550 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Maxim Integrated Products were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently made changes to their positions in MXIM. First Trust Advisors LP grew its holdings in Maxim Integrated Products by 124.2% during the second quarter. First Trust Advisors LP now owns 3,388,116 shares of the semiconductor company’s stock valued at $205,354,000 after purchasing an additional 1,877,069 shares during the period. Parnassus Investments CA purchased a new stake in shares of Maxim Integrated Products during the 1st quarter valued at $78,363,000. BlackRock Inc. lifted its holdings in shares of Maxim Integrated Products by 4.4% during the 1st quarter. BlackRock Inc. now owns 22,958,660 shares of the semiconductor company’s stock valued at $1,116,020,000 after purchasing an additional 959,483 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Maxim Integrated Products by 53.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,047,674 shares of the semiconductor company’s stock valued at $99,546,000 after purchasing an additional 717,043 shares during the last quarter. Finally, Conning Inc. lifted its holdings in shares of Maxim Integrated Products by 420.1% during the 2nd quarter. Conning Inc. now owns 727,214 shares of the semiconductor company’s stock valued at $44,076,000 after purchasing an additional 587,389 shares during the last quarter. Institutional investors and hedge funds own 89.99% of the company’s stock.
In other Maxim Integrated Products news, SVP Edwin Medlin sold 12,830 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $69.17, for a total transaction of $887,451.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tunc Doluca sold 14,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $57.73, for a total transaction of $808,220.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,312 shares of company stock valued at $9,128,205. 0.84% of the stock is owned by company insiders.
A number of brokerages recently issued reports on MXIM. Cowen raised their target price on Maxim Integrated Products from $51.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research report on Tuesday, April 28th. Maxim Group downgraded Maxim Integrated Products from a “positive” rating to a “neutral” rating in a research report on Monday, July 13th. Bank of America increased their price target on Maxim Integrated Products from $53.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus increased their price target on Maxim Integrated Products from $71.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $65.24.
NASDAQ MXIM traded down $0.05 during mid-day trading on Thursday, reaching $68.90. 79,630 shares of the stock were exchanged, compared to its average volume of 4,006,200. Maxim Integrated Products Inc. has a 1-year low of $41.93 and a 1-year high of $73.52. The business’s fifty day simple moving average is $67.11 and its 200 day simple moving average is $58.43. The stock has a market capitalization of $18.37 billion, a PE ratio of 30.35, a PEG ratio of 2.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 4.54 and a current ratio of 5.11.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Maxim Integrated Products had a net margin of 29.88% and a return on equity of 36.29%. The company had revenue of $545.37 million for the quarter, compared to the consensus estimate of $542.66 million. During the same quarter last year, the firm posted $0.57 earnings per share. Maxim Integrated Products’s revenue was down 2.0% on a year-over-year basis. On average, analysts anticipate that Maxim Integrated Products Inc. will post 2.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, August 26th. Maxim Integrated Products’s dividend payout ratio is currently 84.96%.
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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