Wealthcare Advisory Partners LLC lessened its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 27.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 612 shares of the semiconductor company’s stock after selling 227 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Maxim Integrated Products were worth $33,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in shares of Maxim Integrated Products by 328.1% during the 1st quarter. Quadrant Capital Group LLC now owns 488 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 374 shares during the period. First Personal Financial Services boosted its position in Maxim Integrated Products by 76.9% in the 1st quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 297 shares during the period. Sun Life Financial INC purchased a new position in Maxim Integrated Products in the 4th quarter valued at approximately $39,000. Guardian Life Insurance Co. of America purchased a new position in Maxim Integrated Products in the 4th quarter valued at approximately $40,000. Finally, CWM LLC boosted its position in Maxim Integrated Products by 38.5% in the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 230 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on MXIM shares. Bank of America reissued a “neutral” rating and issued a $67.00 price target (up previously from $60.00) on shares of Maxim Integrated Products in a research report on Wednesday, May 1st. ValuEngine cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Maxim Group reissued a “buy” rating and issued a $70.00 price target on shares of Maxim Integrated Products in a research report on Wednesday, May 1st. Cowen reissued a “market perform” rating and issued a $63.00 price target (up previously from $56.00) on shares of Maxim Integrated Products in a research report on Wednesday, May 1st. Finally, Barclays raised their price target on shares of Maxim Integrated Products from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.83.
Shares of NASDAQ:MXIM traded down $1.67 during midday trading on Friday, hitting $56.23. The stock had a trading volume of 56,580 shares, compared to its average volume of 1,752,245. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.01 and a beta of 1.38. The company has a quick ratio of 5.77, a current ratio of 6.46 and a debt-to-equity ratio of 0.60. Maxim Integrated Products Inc. has a 1 year low of $46.64 and a 1 year high of $63.68.
Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The business had revenue of $542.38 million for the quarter, compared to the consensus estimate of $540.17 million. Maxim Integrated Products had a net margin of 27.36% and a return on equity of 40.16%. The business’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, research analysts forecast that Maxim Integrated Products Inc. will post 2.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Wednesday, May 29th. Maxim Integrated Products’s payout ratio is 67.90%.
In other news, CEO Tunc Doluca sold 2,500 shares of Maxim Integrated Products stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $54.00, for a total value of $135,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Bruce E. Kiddoo sold 5,000 shares of Maxim Integrated Products stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $58.52, for a total transaction of $292,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,746 shares of company stock worth $3,400,293. Insiders own 0.85% of the company’s stock.
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About Maxim Integrated Products
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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