Maxim Integrated Products, Inc. (MXIM) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 59.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,085 shares of the semiconductor company’s stock after selling 27,542 shares during the period. Teacher Retirement System of Texas’ holdings in Maxim Integrated Products were worth $911,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MXIM. Principal Financial Group Inc. increased its stake in Maxim Integrated Products by 483.2% in 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 buying an additional 1,852,730 shares during the period. Aberdeen Asset Management PLC UK grew its position in Maxim Integrated Products by 1,402.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 363,196 shares of the semiconductor company’s stock worth $16,307,000 after acquiring an additional 339,024 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Maxim Integrated Products by 9.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 190,924 shares of the semiconductor company’s stock worth $8,572,000 after acquiring an additional 16,744 shares in the last quarter. Shelton Capital Management grew its position in Maxim Integrated Products by 24.6% in the second quarter. Shelton Capital Management now owns 21,335 shares of the semiconductor company’s stock worth $958,000 after acquiring an additional 4,218 shares in the last quarter. Finally, Federated Investors Inc. PA grew its position in Maxim Integrated Products by 1,536.5% in the second quarter. Federated Investors Inc. PA now owns 327,522 shares of the semiconductor company’s stock worth $14,706,000 after acquiring an additional 307,509 shares in the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.

Shares of Maxim Integrated Products, Inc. (NASDAQ MXIM) traded up $0.66 during mid-day trading on Thursday, reaching $52.16. 1,650,346 shares of the company’s stock traded hands, compared to its average volume of 2,046,936. The company has a quick ratio of 13.09, a current ratio of 14.14 and a debt-to-equity ratio of 0.68. The firm has a market cap of $14,535.97, a P/E ratio of 22.95, a P/E/G ratio of 2.02 and a beta of 1.10. Maxim Integrated Products, Inc. has a 52-week low of $38.18 and a 52-week high of $55.43.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $576.80 million. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Maxim Integrated Products, Inc. will post 2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 70.24%.

In related news, CEO Tunc Doluca sold 30,000 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $52.16, for a total transaction of $1,564,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Vivek Jain sold 6,793 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $52.18, for a total transaction of $354,458.74. The disclosure for this sale can be found here. Insiders sold 203,527 shares of company stock worth $10,587,830 over the last quarter. 1.11% of the stock is owned by corporate insiders.

MXIM has been the subject of several recent analyst reports. Maxim Group reaffirmed a “buy” rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Drexel Hamilton reissued a “buy” rating and issued a $52.00 price target on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Loop Capital reissued a “buy” rating and issued a $53.00 price target on shares of Maxim Integrated Products in a report on Thursday, August 31st. Stifel Nicolaus increased their price target on shares of Maxim Integrated Products from $54.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Bank of America increased their price target on shares of Maxim Integrated Products from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. Maxim Integrated Products has an average rating of “Hold” and a consensus price target of $52.14.

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Maxim Integrated Products 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.

Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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