Artisan Partners Limited Partnership decreased its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 5.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,792,024 shares of the semiconductor company’s stock after selling 174,353 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Maxim Integrated Products were worth $163,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Maxim Integrated Products by 0.9% in the 2nd quarter. BlackRock Inc. now owns 23,087,467 shares of the semiconductor company’s stock worth $1,354,313,000 after purchasing an additional 217,053 shares during the period. American Century Companies Inc. raised its holdings in Maxim Integrated Products by 0.4% in the 2nd quarter. American Century Companies Inc. now owns 12,403,852 shares of the semiconductor company’s stock worth $727,610,000 after purchasing an additional 47,691 shares during the period. Wells Fargo & Company MN raised its holdings in Maxim Integrated Products by 1.7% in the 1st quarter. Wells Fargo & Company MN now owns 6,884,714 shares of the semiconductor company’s stock worth $414,597,000 after purchasing an additional 118,293 shares during the period. First Trust Advisors LP raised its holdings in Maxim Integrated Products by 25.4% in the 2nd quarter. First Trust Advisors LP now owns 2,088,408 shares of the semiconductor company’s stock worth $122,506,000 after purchasing an additional 422,378 shares during the period. Finally, Millennium Management LLC raised its holdings in Maxim Integrated Products by 15.8% in the 1st quarter. Millennium Management LLC now owns 1,726,882 shares of the semiconductor company’s stock worth $103,993,000 after purchasing an additional 235,444 shares during the period. Hedge funds and other institutional investors own 90.72% of the company’s stock.

Shares of Maxim Integrated Products stock opened at $62.25 on Wednesday. Maxim Integrated Products Inc. has a 12 month low of $44.40 and a 12 month high of $74.94. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 3.67, a current ratio of 4.03 and a debt-to-equity ratio of 0.51.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 26th. The semiconductor company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The business had revenue of $633.10 million during the quarter, compared to analysts’ expectations of $630.39 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. equities research analysts anticipate that Maxim Integrated Products Inc. will post 3.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Wednesday, August 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.42. Maxim Integrated Products’s dividend payout ratio is presently 61.99%.

MXIM has been the subject of a number of analyst reports. BidaskClub raised Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a report on Friday, May 11th. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a report on Thursday, June 14th. Loop Capital initiated coverage on Maxim Integrated Products in a report on Friday, June 22nd. They issued a “buy” rating and a $70.00 price target for the company. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Finally, KeyCorp upped their price target on Maxim Integrated Products from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.61.

In other Maxim Integrated Products news, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $58.48, for a total transaction of $204,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bryan Preeshl sold 1,371 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $62.09, for a total value of $85,125.39. The disclosure for this sale can be found here. Insiders have sold 49,455 shares of company stock valued at $3,063,350 in the last three months. Insiders own 1.11% of the company’s stock.

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, 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: Technical Analysis

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Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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