Maxim Integrated Products, Inc. (MXIM) Holdings Lifted by Aperio Group LLC
Aperio Group LLC raised its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 18.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,464 shares of the semiconductor company’s stock after buying an additional 13,386 shares during the quarter. Aperio Group LLC’s holdings in Maxim Integrated Products were worth $4,173,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Maxim Integrated Products by 16.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 343 shares in the last quarter. Highstreet Asset Management Inc. purchased a new position in shares of Maxim Integrated Products during the second quarter worth about $115,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Maxim Integrated Products during the third quarter worth about $128,000. Acrospire Investment Management LLC grew its holdings in shares of Maxim Integrated Products by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Maxim Integrated Products by 21.1% during the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 500 shares in the last quarter. 89.45% of the stock is owned by institutional investors and hedge funds.
In related news, VP Bruce E. Kiddoo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.40, for a total transaction of $272,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Edward Grady sold 30,849 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $45.04, for a total value of $1,389,438.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,447 shares of company stock valued at $13,012,714. 1.11% of the stock is owned by corporate insiders.
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Shares of Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at $55.33 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.14 and a quick ratio of 13.09. Maxim Integrated Products, Inc. has a 12-month low of $37.32 and a 12-month high of $54.83. The firm has a market capitalization of $15,400.13, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The firm had revenue of $576.00 million during the quarter, compared to the consensus estimate of $576.80 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. equities research analysts forecast that Maxim Integrated Products, Inc. will post 2.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.44 annualized dividend and a yield of 2.60%. Maxim Integrated Products’s payout ratio is currently 70.24%.
Maxim Integrated Products declared that its Board of Directors has approved a share repurchase plan on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
MXIM has been the subject of several recent analyst reports. Drexel Hamilton reissued a “buy” rating and set a $52.00 price objective on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Morgan Stanley boosted their price objective on Maxim Integrated Products from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Loop Capital reissued a “buy” rating and set a $53.00 price objective on shares of Maxim Integrated Products in a report on Thursday, August 31st. Wells Fargo & Company boosted their price objective on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Finally, KeyCorp boosted their price objective on Maxim Integrated Products from $49.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.14.
Maxim Integrated Products Company 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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