Coldstream Capital Management Inc. bought a new stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,833 shares of the semiconductor company’s stock, valued at approximately $621,000.
Several other large investors have also recently added to or reduced their stakes in MXIM. BlackRock Inc. grew its stake in shares of Maxim Integrated Products by 2,247.2% in the first quarter. BlackRock Inc. now owns 17,583,071 shares of the semiconductor company’s stock valued at $790,536,000 after buying an additional 16,833,967 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Maxim Integrated Products by 483.2% during the 2nd quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock valued at $100,403,000 after purchasing an additional 1,852,730 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Maxim Integrated Products during the 2nd quarter valued at $73,792,000. JPMorgan Chase & Co. lifted its holdings in Maxim Integrated Products by 98.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,258,111 shares of the semiconductor company’s stock valued at $101,387,000 after purchasing an additional 1,122,327 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Maxim Integrated Products by 29.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,770,400 shares of the semiconductor company’s stock valued at $169,291,000 after purchasing an additional 866,278 shares during the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.
Shares of Maxim Integrated Products, Inc. (MXIM) traded down 0.10% on Tuesday, hitting $48.76. The company had a trading volume of 146,812 shares. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 24.63 and a beta of 1.05. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70. The company has a 50 day moving average price of $46.64 and a 200 day moving average price of $45.96.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities analysts forecast that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were issued a dividend of $0.36 per share. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a yield of 2.95%. Maxim Integrated Products’s dividend payout ratio is 72.36%.
Maxim Integrated Products announced that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In related news, Director Mary Ann Wright sold 560 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.29, for a total transaction of $25,922.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tunc Doluca sold 15,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $47.91, for a total value of $718,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,443 shares of company stock worth $6,266,251 in the last three months. 1.11% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Loop Capital reaffirmed a “buy” rating and set a $53.00 price target on shares of Maxim Integrated Products in a report on Thursday, August 31st. B. Riley reaffirmed a “neutral” rating and set a $44.00 price target on shares of Maxim Integrated Products in a report on Monday, July 17th. Finally, Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Maxim Integrated Products in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $47.29.
About Maxim Integrated Products
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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