Victory Capital Management Inc. reduced its stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 56.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 196,259 shares of the semiconductor company’s stock after selling 254,052 shares during the period. Victory Capital Management Inc.’s holdings in Maxim Integrated Products were worth $10,435,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MXIM. American International Group Inc. raised its position in Maxim Integrated Products by 27,390.1% during the 4th quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after purchasing an additional 7,610,336 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Maxim Integrated Products by 8,495.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,356,863 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 3,317,811 shares during the last quarter. Norges Bank bought a new position in Maxim Integrated Products during the 4th quarter worth $142,906,000. Northern Trust Corp raised its position in Maxim Integrated Products by 51.0% during the 4th quarter. Northern Trust Corp now owns 3,706,020 shares of the semiconductor company’s stock worth $188,452,000 after purchasing an additional 1,252,400 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Maxim Integrated Products by 37.6% during the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after purchasing an additional 1,160,574 shares during the last quarter. 98.20% of the stock is owned by institutional investors and hedge funds.
MXIM has been the subject of several research analyst reports. ValuEngine lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. BidaskClub raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Maxim Group reissued a “sell” rating on shares of Maxim Integrated Products in a research report on Friday, February 8th. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, Deutsche Bank lifted their price objective on Maxim Integrated Products from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $61.83.
Shares of MXIM traded up $0.11 during trading hours on Wednesday, hitting $53.77. The stock had a trading volume of 26,879 shares, compared to its average volume of 1,991,248. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.46 and a quick ratio of 5.77. The company has a market cap of $14.77 billion, a PE ratio of 19.87, a P/E/G ratio of 1.88 and a beta of 1.35. Maxim Integrated Products Inc. has a 1-year low of $46.64 and a 1-year high of $63.68.
Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The company had revenue of $542.38 million during the quarter, compared to the consensus estimate of $540.17 million. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.73 EPS. Analysts expect that Maxim Integrated Products Inc. will post 2.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.42%. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.
In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 8,062 shares of Maxim Integrated Products stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $55.60, for a total transaction of $448,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tunc Doluca sold 2,500 shares of Maxim Integrated Products stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $54.96, for a total value of $137,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,352 shares of company stock valued at $4,172,270. 0.85% of the stock is currently owned by company insiders.
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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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