Sciencast Management LP bought a new position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,432 shares of the semiconductor company’s stock, valued at approximately $938,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cerebellum GP LLC bought a new position in Maxim Integrated Products during the fourth quarter worth $121,000. Aviance Capital Management LLC boosted its stake in Maxim Integrated Products by 38,728.6% during the fourth quarter. Aviance Capital Management LLC now owns 2,718 shares of the semiconductor company’s stock worth $142,000 after acquiring an additional 2,711 shares in the last quarter. NuWave Investment Management LLC bought a new position in Maxim Integrated Products during the fourth quarter worth $169,000. Financial Gravity Companies Inc. bought a new position in Maxim Integrated Products during the fourth quarter worth $215,000. Finally, IBM Retirement Fund bought a new position in Maxim Integrated Products during the third quarter worth $200,000.
In related news, Director Mary Ann Wright sold 440 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $60.72, for a total transaction of $26,716.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tunc Doluca sold 54,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $59.57, for a total transaction of $3,216,780.00. The disclosure for this sale can be found here. Insiders have sold 239,630 shares of company stock worth $14,410,267 over the last three months. 1.11% of the stock is owned by insiders.
MXIM stock opened at $61.71 on Wednesday. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.50. Maxim Integrated Products Inc. has a 12-month low of $43.35 and a 12-month high of $74.94. The firm has a market cap of $17,249.67, a PE ratio of 46.40, a P/E/G ratio of 2.27 and a beta of 1.14.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.65. Maxim Integrated Products had a net margin of 16.08% and a return on equity of 32.59%. The company had revenue of $623.00 million for the quarter, compared to analyst estimates of $620.46 million. During the same period last year, the firm earned $0.46 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. research analysts predict that Maxim Integrated Products Inc. will post 2.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given 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 dividend yield of 2.72%. The ex-dividend date was Wednesday, February 28th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 126.32%.
Several brokerages recently issued reports on MXIM. ValuEngine lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. B. Riley reissued a “hold” rating and set a $54.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 26th. Macquarie lowered shares of Maxim Integrated Products from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $62.00 to $64.00 in a research note on Wednesday, February 28th. SunTrust Banks reissued a “hold” rating and set a $63.00 target price on shares of Maxim Integrated Products in a research note on Friday, January 26th. Finally, Oppenheimer reissued a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, January 26th. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $54.86.
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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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