Oppenheimer & Co. Inc. Acquires New Position in Maxim Integrated Products Inc. (MXIM)
Oppenheimer & Co. Inc. acquired a new position in Maxim Integrated Products Inc. (NASDAQ:MXIM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,942 shares of the semiconductor company’s stock, valued at approximately $335,000.
A number of other large investors have also recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY grew its stake in Maxim Integrated Products by 4.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock worth $1,287,000 after purchasing an additional 902 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Maxim Integrated Products by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock worth $14,289,000 after purchasing an additional 913 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Maxim Integrated Products by 91.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 989 shares in the last quarter. Argent Trust Co grew its stake in Maxim Integrated Products by 27.3% in the second quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Maxim Integrated Products by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 69,128 shares of the semiconductor company’s stock worth $4,055,000 after purchasing an additional 1,226 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors.
In other news, VP Sumeet Gagneja sold 471 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $60.74, for a total transaction of $28,608.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Ann Wright sold 440 shares of the stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $60.43, for a total value of $26,589.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,905 shares of company stock valued at $1,116,669. Company insiders own 0.85% of the company’s stock.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $638.50 million during the quarter, compared to analyst estimates of $635.19 million. Maxim Integrated Products had a return on equity of 41.83% and a net margin of 20.06%. Maxim Integrated Products’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Analysts anticipate that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.53%. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.
Several research analysts recently issued reports on MXIM shares. KeyCorp started coverage on Maxim Integrated Products in a research note on Tuesday, September 25th. They issued a “sector weight” rating and a $68.00 price objective on the stock. Stifel Nicolaus cut Maxim Integrated Products from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $65.00 in a research note on Wednesday, September 12th. ValuEngine cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Morgan Stanley dropped their price objective on Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research lowered Maxim Integrated Products from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 26th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $60.76.
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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.
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