Acadian Asset Management LLC Has $367,000 Stake in Maxim Integrated Products, Inc. (MXIM)
Acadian Asset Management LLC reduced its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 81.7% during the second quarter, Holdings Channel reports. The institutional investor owned 8,166 shares of the semiconductor company’s stock after selling 36,345 shares during the period. Acadian Asset Management LLC’s holdings in Maxim Integrated Products were worth $367,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in Maxim Integrated Products by 2,247.2% in the first quarter. BlackRock Inc. now owns 17,583,071 shares of the semiconductor company’s stock worth $790,536,000 after buying an additional 16,833,967 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Maxim Integrated Products by 33.7% in the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock worth $525,738,000 after buying an additional 2,948,722 shares in the last quarter. American Century Companies Inc. raised its stake in Maxim Integrated Products by 10.6% in the first quarter. American Century Companies Inc. now owns 12,156,414 shares of the semiconductor company’s stock worth $546,552,000 after buying an additional 1,168,581 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Maxim Integrated Products during the first quarter worth $41,874,000. Finally, Marshall Wace North America L.P. purchased a new stake in Maxim Integrated Products during the first quarter valued at approximately $41,874,000. Institutional investors own 90.20% of the company’s stock.
Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded down 0.77% on Tuesday, reaching $45.09. 565,286 shares of the company traded hands. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 22.77 and a beta of 1.04. The stock’s 50-day moving average is $45.50 and its 200-day moving average is $45.55. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The business had revenue of $602 million during the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities research analysts expect that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.
Maxim Integrated Products announced that its Board of Directors has approved a share buyback plan on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.36 per share. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is currently 66.33%.
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MXIM has been the subject of several analyst reports. BidaskClub lowered shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Maxim Group reiterated a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, April 21st. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, April 24th. Evercore ISI reiterated an “in-line” rating on shares of Maxim Integrated Products in a research note on Friday, April 21st. Finally, UBS AG reiterated a “neutral” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Maxim Integrated Products in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.61.
In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tunc Doluca sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $49.00, for a total transaction of $294,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,548 shares of company stock valued at $6,711,961. 1.30% of the stock is owned by corporate insiders.
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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