American Century Companies Inc. Increases Position in Maxim Integrated Products, Inc. (MXIM)
American Century Companies Inc. increased its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,214,823 shares of the semiconductor company’s stock after acquiring an additional 2,087,911 shares during the quarter. Maxim Integrated Products comprises approximately 0.7% of American Century Companies Inc.’s holdings, making the stock its 20th largest holding. American Century Companies Inc. owned 5.05% of Maxim Integrated Products worth $678,189,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of MXIM. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Maxim Integrated Products by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 343 shares in the last quarter. Highstreet Asset Management Inc. acquired a new stake in shares of Maxim Integrated Products in the 2nd quarter valued at $115,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Maxim Integrated Products in the 3rd quarter valued at $128,000. Acrospire Investment Management LLC boosted its stake in shares of Maxim Integrated Products by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its position in Maxim Integrated Products by 21.1% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
In other Maxim Integrated Products news, VP Vivek Jain sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $45.21, for a total value of $452,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Edward Grady sold 30,849 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total value of $1,389,438.96. The disclosure for this sale can be found here. Insiders sold a total of 244,447 shares of company stock worth $11,998,714 over the last 90 days. Corporate insiders own 1.11% of the company’s stock.
Maxim Integrated Products, Inc. (MXIM) traded up $1.18 during mid-day trading on Monday, reaching $54.63. The company’s stock had a trading volume of 1,308,941 shares, compared to its average volume of 1,962,253. The stock has a market cap of $15,045.46, a P/E ratio of 23.76, a PEG ratio of 2.10 and a beta of 1.11. The company has a current ratio of 14.14, a quick ratio of 13.09 and a debt-to-equity ratio of 0.68.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. sell-side analysts predict that Maxim Integrated Products, Inc. will post 2.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 2.64%. Maxim Integrated Products’s dividend payout ratio is currently 70.24%.
Maxim Integrated Products declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several research analysts recently issued reports on MXIM shares. BidaskClub upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Maxim Group reissued a “buy” rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Drexel Hamilton reissued a “buy” rating and set a $52.00 price objective on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Finally, Loop Capital reissued a “buy” rating and set a $53.00 price objective on shares of Maxim Integrated Products in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Maxim Integrated Products presently has a consensus rating of “Hold” and an average target price of $52.14.
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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