Maxim Integrated Products, Inc. (MXIM) Stake Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its holdings in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 85.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,799 shares of the semiconductor company’s stock after buying an additional 8,658 shares during the quarter. Pinebridge Investments L.P.’s holdings in Maxim Integrated Products were worth $897,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MXIM. Northwestern Mutual Wealth Management Co. grew its position in shares of Maxim Integrated Products by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares during the last quarter. Highstreet Asset Management Inc. bought a new stake in shares of Maxim Integrated Products in the 2nd quarter worth approximately $115,000. Acrospire Investment Management LLC grew its position in shares of Maxim Integrated Products by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,600 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Maxim Integrated Products in the 3rd quarter worth approximately $128,000. Finally, IFP Advisors Inc grew its position in shares of Maxim Integrated Products by 68.5% in the 2nd quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock worth $140,000 after buying an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

A number of brokerages have recently weighed in on MXIM. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Citigroup lifted their price objective on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. SunTrust Banks lifted their price objective on Maxim Integrated Products to $53.00 and gave the stock a “hold” rating in a research report on Friday, October 20th. BMO Capital Markets lifted their price objective on Maxim Integrated Products from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Bank of America lifted their price objective on Maxim Integrated Products from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $52.14.

In other Maxim Integrated Products news, Director William D. Watkins sold 19,650 shares of Maxim Integrated Products stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $51.49, for a total transaction of $1,011,778.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 15,000 shares of Maxim Integrated Products stock in a transaction on Monday, October 2nd. The shares were 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 223,177 shares of company stock valued at $11,599,609 in the last quarter. 1.11% of the stock is owned by company insiders.

Maxim Integrated Products, Inc. (MXIM) opened at $51.89 on Friday. The company has a market capitalization of $14,682.34, a P/E ratio of 23.18, a PEG ratio of 2.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.14 and a quick ratio of 13.09. Maxim Integrated Products, Inc. has a one year low of $38.18 and a one year high of $55.43.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. analysts expect that Maxim Integrated Products, Inc. will post 2.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, November 29th. Maxim Integrated Products’s payout ratio is 70.24%.

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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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