Maxim Integrated Products Inc. (MXIM) Stake Lowered by American Century Companies Inc.

American Century Companies Inc. lessened its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 16.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,418,313 shares of the semiconductor company’s stock after selling 1,985,539 shares during the period. Maxim Integrated Products makes up 0.6% of American Century Companies Inc.’s investment portfolio, making the stock its 26th largest holding. American Century Companies Inc. owned 3.75% of Maxim Integrated Products worth $587,489,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Maxim Integrated Products by 0.9% in the 2nd quarter. BlackRock Inc. now owns 23,087,467 shares of the semiconductor company’s stock worth $1,354,313,000 after acquiring an additional 217,053 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Maxim Integrated Products by 1.3% in the 3rd quarter. Wells Fargo & Company MN now owns 6,988,853 shares of the semiconductor company’s stock worth $394,102,000 after acquiring an additional 89,834 shares during the period. First Trust Advisors LP lifted its stake in shares of Maxim Integrated Products by 25.4% in the 2nd quarter. First Trust Advisors LP now owns 2,088,408 shares of the semiconductor company’s stock worth $122,506,000 after acquiring an additional 422,378 shares during the period. Waddell & Reed Financial Inc. lifted its stake in shares of Maxim Integrated Products by 0.9% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,834,509 shares of the semiconductor company’s stock worth $107,612,000 after acquiring an additional 16,735 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Maxim Integrated Products by 3.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,684 shares of the semiconductor company’s stock valued at $93,872,000 after purchasing an additional 60,550 shares during the period. Institutional investors own 90.73% of the company’s stock.

Shares of NASDAQ MXIM opened at $51.41 on Tuesday. The company has a quick ratio of 3.27, a current ratio of 3.57 and a debt-to-equity ratio of 0.52. Maxim Integrated Products Inc. has a 52 week low of $46.85 and a 52 week high of $74.94. The stock has a market capitalization of $14.41 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.64 and a beta of 1.28.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. The firm had revenue of $638.50 million during the quarter, compared to the consensus estimate of $635.19 million. During the same period last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that Maxim Integrated Products Inc. will post 2.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 annualized dividend and a yield of 3.58%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 67.90%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total transaction of $284,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Preeshl sold 1,371 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $62.09, for a total transaction of $85,125.39. The disclosure for this sale can be found here. Insiders have sold a total of 29,379 shares of company stock valued at $1,764,696 over the last 90 days. 0.85% of the stock is currently owned by insiders.

Several analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, July 27th. Maxim Group reiterated a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, July 27th. BidaskClub upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Citigroup reduced their price objective on shares of Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Finally, MKM Partners raised their price objective on shares of Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.76.

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Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

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

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