LPL Financial LLC boosted its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 16.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,143 shares of the semiconductor company’s stock after purchasing an additional 2,848 shares during the quarter. LPL Financial LLC’s holdings in Maxim Integrated Products were worth $1,053,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in Maxim Integrated Products in the 4th quarter worth $121,000. Aviance Capital Management LLC lifted its stake in Maxim Integrated Products by 38,728.6% in the 4th quarter. Aviance Capital Management LLC now owns 2,718 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 2,711 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in Maxim Integrated Products in the 4th quarter worth $169,000. Financial Gravity Companies Inc. purchased a new stake in Maxim Integrated Products in the 4th quarter worth $215,000. Finally, MML Investors Services LLC purchased a new stake in Maxim Integrated Products in the 4th quarter worth $229,000. Institutional investors and hedge funds own 90.62% of the company’s stock.
Several analysts have recently issued reports on the stock. Macquarie cut shares of Maxim Integrated Products from an “outperform” rating to a “neutral” rating and upped their target price for the company from $62.00 to $64.00 in a research report on Wednesday, February 28th. B. Riley restated a “hold” rating and set a $54.00 target price on shares of Maxim Integrated Products in a research report on Friday, January 26th. Zacks Investment Research cut shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Stifel Nicolaus upped their target price on shares of Maxim Integrated Products from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, ValuEngine cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Fifteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.20.
In related news, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $57.96, for a total transaction of $202,860.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tunc Doluca sold 4,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $55.00, for a total transaction of $220,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 247,428 shares of company stock worth $15,004,988 over the last quarter. 1.11% of the stock is currently owned by insiders.
Shares of NASDAQ:MXIM opened at $57.98 on Wednesday. The stock has a market cap of $15,975.77, a P/E ratio of 27.35, a PEG ratio of 2.10 and a beta of 1.13. 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 issued its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $0.65 EPS for the quarter, meeting the consensus estimate of $0.65. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $620.46 million. Maxim Integrated Products had a net margin of 16.08% and a return on equity of 32.59%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. equities analysts forecast that Maxim Integrated Products Inc. will post 2.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.90%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, February 28th. Maxim Integrated Products’s dividend payout ratio is presently 79.25%.
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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.
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