Banco de Sabadell S.A bought a new stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,590 shares of the semiconductor company’s stock, valued at approximately $1,087,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $106,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Maxim Integrated Products during the second quarter worth approximately $117,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $205,000. Cigna Investments Inc. New purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $209,000. Finally, Hilltop Holdings Inc. purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $218,000. 90.72% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:MXIM traded down $2.30 during trading hours on Friday, hitting $53.41. The company had a trading volume of 3,317,239 shares, compared to its average volume of 2,463,683. The stock has a market cap of $15.68 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.56 and a beta of 1.19. Maxim Integrated Products Inc. has a 52 week low of $48.27 and a 52 week high of $74.94. 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 released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $630.39 million. Maxim Integrated Products had a net margin of 18.84% and a return on equity of 37.83%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, analysts expect that Maxim Integrated Products Inc. will post 3.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 30th were issued a $0.46 dividend. The ex-dividend date was Wednesday, August 29th. This represents a $1.84 annualized dividend and a yield of 3.45%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.42. Maxim Integrated Products’s payout ratio is 67.90%.
Several research analysts have commented on MXIM shares. ValuEngine downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. BidaskClub downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Stifel Nicolaus raised their target price on shares of Maxim Integrated Products from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, BMO Capital Markets raised their target price on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $61.89.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $56.80, for a total transaction of $284,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Vivek Jain sold 10,474 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $61.87, for a total value of $648,026.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,879 shares of company stock worth $3,553,301. 1.11% of the stock is currently owned by company insiders.
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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