Maxim Integrated Products, Inc. (MXIM) Shares Sold by Capital World Investors
Capital World Investors decreased its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,000,000 shares of the semiconductor company’s stock after selling 2,346,000 shares during the period. Capital World Investors owned approximately 1.41% of Maxim Integrated Products worth $179,600,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MXIM. Ameritas Investment Partners Inc. bought a new stake in Maxim Integrated Products during the first quarter valued at $226,000. Prudential Financial Inc. lifted its stake in Maxim Integrated Products by 98.5% during the first quarter. Prudential Financial Inc. now owns 49,535 shares of the semiconductor company’s stock worth $2,227,000 after purchasing an additional 24,578 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Maxim Integrated Products by 280.8% during the first quarter. Victory Capital Management Inc. now owns 134,028 shares of the semiconductor company’s stock worth $6,026,000 after purchasing an additional 98,828 shares during the last quarter. Blair William & Co. IL bought a new stake in Maxim Integrated Products during the first quarter worth about $213,000. Finally, AXA lifted its stake in Maxim Integrated Products by 14.0% during the first quarter. AXA now owns 7,183 shares of the semiconductor company’s stock worth $323,000 after purchasing an additional 883 shares during the last quarter. 89.39% of the stock is owned by institutional investors.
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Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 48.585 on Thursday. The stock has a 50 day moving average price of $46.29 and a 200-day moving average price of $45.89. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 24.538 and a beta of 1.05. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $609.52 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is currently 72.36%.
Maxim Integrated Products declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, VP Vivek Jain sold 10,000 shares of Maxim Integrated Products stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $45.21, for a total transaction of $452,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Ann Wright sold 560 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Insiders have sold 139,943 shares of company stock valued at $6,426,166 in the last ninety days. Insiders own 1.30% of the company’s stock.
Several brokerages have issued reports on MXIM. B. Riley reaffirmed a “neutral” rating and set a $47.00 price target on shares of Maxim Integrated Products in a research note on Tuesday, September 12th. BidaskClub raised Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 20th. Finally, Maxim Group began coverage on Maxim Integrated Products in a research note on Friday, June 16th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and an average price target of $47.29.
Maxim Integrated Products Profile
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.
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