Boston Private Wealth LLC Trims Holdings in Maxim Integrated Products Inc. (NASDAQ:MXIM)
Boston Private Wealth LLC trimmed its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 42,939 shares of the semiconductor company’s stock after selling 347 shares during the period. Boston Private Wealth LLC’s holdings in Maxim Integrated Products were worth $2,487,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Maxim Integrated Products by 1.6% during the 3rd quarter. Creative Planning now owns 12,352 shares of the semiconductor company’s stock worth $715,000 after buying an additional 199 shares during the last quarter. Hallmark Capital Management Inc. increased its stake in Maxim Integrated Products by 10.8% in the 3rd quarter. Hallmark Capital Management Inc. now owns 37,238 shares of the semiconductor company’s stock worth $2,156,000 after purchasing an additional 3,615 shares in the last quarter. Mackay Shields LLC increased its stake in Maxim Integrated Products by 8.5% in the 3rd quarter. Mackay Shields LLC now owns 44,796 shares of the semiconductor company’s stock worth $2,594,000 after purchasing an additional 3,509 shares in the last quarter. Synovus Financial Corp increased its stake in Maxim Integrated Products by 60.3% in the 3rd quarter. Synovus Financial Corp now owns 625 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 235 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Maxim Integrated Products by 66.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 30,779 shares of the semiconductor company’s stock worth $1,782,000 after purchasing an additional 12,295 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert Edward Grady sold 6,575 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $52.63, for a total value of $346,042.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Bruce E. Kiddoo sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $57.21, for a total value of $572,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 123,468 shares of company stock valued at $7,146,585. 0.84% of the stock is currently owned by company insiders.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Maxim Integrated Products had a return on equity of 34.55% and a net margin of 34.87%. The company had revenue of $553.00 million for the quarter, compared to analysts’ expectations of $530.99 million. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. On average, research analysts forecast that Maxim Integrated Products Inc. will post 2.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.92 annualized dividend and a yield of 3.24%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 79.01%.
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Maxim Integrated Products from $69.00 to $72.00 in a research note on Wednesday, October 30th. Maxim Group cut Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a research note on Friday, September 27th. Cowen lifted their price target on Maxim Integrated Products from $57.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on Maxim Integrated Products from $61.00 to $56.00 in a research note on Thursday, August 29th. Finally, Benchmark assumed coverage on Maxim Integrated Products in a research note on Thursday, August 1st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.08.
Maxim Integrated Products Company 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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