Pinebridge Investments L.P. raised its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,012 shares of the semiconductor company’s stock after purchasing an additional 940 shares during the period. Pinebridge Investments L.P.’s holdings in Maxim Integrated Products were worth $4,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of MXIM. ETF Managers Group LLC grew its stake in Maxim Integrated Products by 8.5% during the 1st quarter. ETF Managers Group LLC now owns 2,414 shares of the semiconductor company’s stock worth $128,000 after buying an additional 190 shares during the last quarter. Financial Advisors Network Inc. grew its stake in Maxim Integrated Products by 4.6% during the 2nd quarter. Financial Advisors Network Inc. now owns 6,137 shares of the semiconductor company’s stock worth $332,000 after buying an additional 272 shares during the last quarter. O Shares Investment Advisers LLC grew its stake in Maxim Integrated Products by 1.6% during the 1st quarter. O Shares Investment Advisers LLC now owns 17,564 shares of the semiconductor company’s stock worth $934,000 after buying an additional 274 shares during the last quarter. Parallel Advisors LLC grew its stake in Maxim Integrated Products by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 903 shares of the semiconductor company’s stock worth $54,000 after buying an additional 275 shares during the last quarter. Finally, Coastal Investment Advisors Inc. grew its stake in Maxim Integrated Products by 97.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock worth $34,000 after buying an additional 276 shares during the last quarter. 95.25% of the stock is currently owned by institutional investors.
MXIM has been the topic of a number of research reports. Citigroup set a $62.00 price target on Maxim Integrated Products and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 price target on the stock. in a research note on Thursday, July 25th. Benchmark started coverage on Maxim Integrated Products in a research note on Thursday, August 1st. They set a “hold” rating on the stock. Cowen reaffirmed a “market perform” rating and set a $57.00 price objective (down from $63.00) on shares of Maxim Integrated Products in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price objective on Maxim Integrated Products from $61.00 to $56.00 in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.44.
Shares of MXIM traded down $0.19 during mid-day trading on Friday, hitting $59.59. The company’s stock had a trading volume of 1,273,796 shares, compared to its average volume of 1,721,514. The company has a current ratio of 6.84, a quick ratio of 6.18 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $56.09 and a 200 day simple moving average of $56.78. The firm has a market capitalization of $16.22 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.33 and a beta of 1.39. Maxim Integrated Products Inc. has a 1-year low of $46.64 and a 1-year high of $65.73.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $557.00 million during the quarter, compared to analysts’ expectations of $559.97 million. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. The company’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. As a group, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.48 dividend. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, August 28th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 79.01%.
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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