Chartwell Investment Partners LLC boosted its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,171 shares of the semiconductor company’s stock after buying an additional 2,449 shares during the period. Chartwell Investment Partners LLC’s holdings in Maxim Integrated Products were worth $3,101,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in Maxim Integrated Products in the 4th quarter valued at about $4,401,000. Financial Management Professionals Inc. purchased a new stake in Maxim Integrated Products during the second quarter worth about $50,000. Capital Advisory Group Advisory Services LLC purchased a new stake in Maxim Integrated Products during the first quarter worth about $49,000. Valeo Financial Advisors LLC increased its stake in Maxim Integrated Products by 491.5% during the second quarter. Valeo Financial Advisors LLC now owns 1,112 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 924 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Maxim Integrated Products by 18.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,285 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 89.99% of the company’s stock.
In other Maxim Integrated Products news, VP Vivek Jain sold 4,302 shares of Maxim Integrated Products stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.53, for a total value of $260,400.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tunc Doluca sold 60,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $72.38, for a total transaction of $4,342,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,446 shares of company stock worth $8,907,136. 0.84% of the stock is currently owned by company insiders.
Shares of MXIM opened at $68.09 on Friday. Maxim Integrated Products Inc. has a 1-year low of $41.93 and a 1-year high of $73.52. The stock has a market cap of $18.15 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.77 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.11 and a quick ratio of 5.39. The firm has a fifty day moving average price of $63.65 and a 200 day moving average price of $57.78.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $545.37 million for the quarter, compared to analyst estimates of $542.66 million. Maxim Integrated Products had a net margin of 29.88% and a return on equity of 36.29%. Maxim Integrated Products’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, equities analysts expect that Maxim Integrated Products Inc. will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $1.92 dividend on an annualized basis and a yield of 2.82%.
A number of brokerages have issued reports on MXIM. Oppenheimer began coverage on shares of Maxim Integrated Products in a research note on Wednesday, June 10th. They set a “hold” rating on the stock. Bank of America boosted their price target on shares of Maxim Integrated Products from $53.00 to $58.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 29th. SunTrust Banks boosted their price target on shares of Maxim Integrated Products from $55.00 to $73.00 in a research note on Tuesday, July 14th. Goldman Sachs Group upgraded shares of Maxim Integrated Products from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $59.00 to $70.00 in a research note on Wednesday, July 15th. Finally, Morgan Stanley raised their target price on shares of Maxim Integrated Products from $48.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Maxim Integrated Products presently has a consensus rating of “Hold” and a consensus price target of $65.24.
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.
Further Reading: What is meant by a buy rating?
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