Campbell & CO Investment Adviser LLC purchased a new stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,997 shares of the semiconductor company’s stock, valued at approximately $744,000.
Several other institutional investors have also made changes to their positions in the stock. American International Group Inc. boosted its holdings in Maxim Integrated Products by 27,390.1% in the 4th quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after buying an additional 7,610,336 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Maxim Integrated Products by 8,495.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,356,863 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 3,317,811 shares during the last quarter. Norges Bank acquired a new position in shares of Maxim Integrated Products during the 4th quarter worth approximately $142,906,000. Northern Trust Corp boosted its holdings in shares of Maxim Integrated Products by 51.0% during the 4th quarter. Northern Trust Corp now owns 3,706,020 shares of the semiconductor company’s stock worth $188,452,000 after purchasing an additional 1,252,400 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Maxim Integrated Products by 37.6% during the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after purchasing an additional 1,160,574 shares during the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.
In related news, CEO Tunc Doluca sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $57.00, for a total transaction of $570,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Vivek Jain sold 14,246 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $60.58, for a total transaction of $863,022.68. The disclosure for this sale can be found here. Insiders have sold 57,746 shares of company stock worth $3,400,293 in the last 90 days. 0.85% of the stock is owned by company insiders.
Several brokerages have recently weighed in on MXIM. Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. BidaskClub raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. ValuEngine raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $64.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, April 30th. Finally, Deutsche Bank lifted their price target on shares of Maxim Integrated Products from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.83.
Shares of MXIM stock traded up $1.34 on Wednesday, reaching $59.01. 1,040,895 shares of the stock were exchanged, compared to its average volume of 1,943,584. The company has a quick ratio of 5.77, a current ratio of 6.46 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average price is $55.51. The stock has a market cap of $16.13 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. Maxim Integrated Products Inc. has a twelve month low of $46.64 and a twelve month high of $63.68.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $542.38 million during the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a net margin of 27.36% and a return on equity of 40.16%. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, May 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.12%. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.
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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