Schwab Charles Investment Management Inc. increased its position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,230,789 shares of the semiconductor company’s stock after purchasing an additional 8,447 shares during the period. Schwab Charles Investment Management Inc. owned about 0.44% of Maxim Integrated Products worth $64,346,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MXIM. PNC Financial Services Group Inc. grew its position in Maxim Integrated Products by 9.7% in the second quarter. PNC Financial Services Group Inc. now owns 22,953 shares of the semiconductor company’s stock valued at $1,031,000 after acquiring an additional 2,031 shares during the period. Dimensional Fund Advisors LP boosted its stake in Maxim Integrated Products by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 765,566 shares of the semiconductor company’s stock worth $34,372,000 after purchasing an additional 48,633 shares in the last quarter. Numeric Investors LLC boosted its stake in Maxim Integrated Products by 15.6% in the second quarter. Numeric Investors LLC now owns 29,600 shares of the semiconductor company’s stock worth $1,329,000 after purchasing an additional 4,000 shares in the last quarter. Royal Bank of Canada boosted its stake in Maxim Integrated Products by 43.9% in the second quarter. Royal Bank of Canada now owns 44,758 shares of the semiconductor company’s stock worth $2,010,000 after purchasing an additional 13,659 shares in the last quarter. Finally, Prudential PLC boosted its stake in Maxim Integrated Products by 9.4% in the second quarter. Prudential PLC now owns 5,800 shares of the semiconductor company’s stock worth $261,000 after purchasing an additional 500 shares in the last quarter.
Several equities analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of Maxim Integrated Products in a research note on Wednesday, January 31st. Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Monday, January 29th. BMO Capital Markets increased their price target on Maxim Integrated Products to $55.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Barclays increased their price target on Maxim Integrated Products from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Finally, SunTrust Banks reiterated a “hold” rating and set a $63.00 price objective on shares of Maxim Integrated Products in a report on Friday, January 26th. Fifteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Maxim Integrated Products currently has a consensus rating of “Hold” and an average price target of $54.29.
In other Maxim Integrated Products news, VP Vivek Jain sold 1,793 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $53.28, for a total transaction of $95,531.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Watkins sold 19,650 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $51.49, for a total value of $1,011,778.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 234,749 shares of company stock worth $13,647,197. 1.11% of the stock is owned by company insiders.
Maxim Integrated Products Inc. (MXIM) traded up $2.35 during midday trading on Friday, hitting $57.95. The company had a trading volume of 4,040,394 shares, compared to its average volume of 3,815,388. The firm has a market cap of $12,645.50, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 2.14 and a beta of 1.20. Maxim Integrated Products Inc. has a 12 month low of $43.35 and a 12 month high of $74.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.14 and a current ratio of 4.48.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $0.65 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. The firm had revenue of $623.00 million for the quarter, compared to the consensus estimate of $620.46 million. Maxim Integrated Products had a return on equity of 32.59% and a net margin of 16.08%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 EPS. equities research analysts anticipate that Maxim Integrated Products Inc. will post 2.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.42 per share. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.36. This represents a $1.68 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, February 28th. Maxim Integrated Products’s payout ratio is currently 108.27%.
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Maxim Integrated Products Company Profile
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.
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