Cubist Systematic Strategies LLC trimmed its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 46.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,896 shares of the semiconductor company’s stock after selling 10,338 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Maxim Integrated Products were worth $698,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kiwi Wealth Investments Limited Partnership bought a new position in Maxim Integrated Products in the 2nd quarter worth approximately $5,876,000. Stanley Laman Group Ltd. boosted its stake in Maxim Integrated Products by 15.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 15,819 shares of the semiconductor company’s stock worth $928,000 after purchasing an additional 2,122 shares during the period. Van ECK Associates Corp boosted its stake in Maxim Integrated Products by 1.4% in the 2nd quarter. Van ECK Associates Corp now owns 696,612 shares of the semiconductor company’s stock worth $40,863,000 after purchasing an additional 9,596 shares during the period. Krane Funds Advisors LLC boosted its stake in Maxim Integrated Products by 20.8% in the 2nd quarter. Krane Funds Advisors LLC now owns 10,882 shares of the semiconductor company’s stock worth $638,000 after purchasing an additional 1,876 shares during the period. Finally, Natixis bought a new position in Maxim Integrated Products in the 1st quarter worth approximately $8,724,000. 90.69% of the stock is owned by institutional investors.

Several research analysts have weighed in on the company. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. MKM Partners upped their price target on Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. BMO Capital Markets upped their price target on Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “strong-buy” rating and set a $70.00 price target for the company in a research note on Monday, July 30th. Finally, Citigroup upped their price target on Maxim Integrated Products from $56.00 to $61.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Fifteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.06.

In related news, VP David Loftus sold 6,623 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $60.01, for a total value of $397,446.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $63.00, for a total value of $1,575,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,379 shares of company stock valued at $3,473,981 over the last quarter. Corporate insiders own 1.11% of the company’s stock.

NASDAQ MXIM opened at $59.52 on Monday. The company has a quick ratio of 3.67, a current ratio of 4.03 and a debt-to-equity ratio of 0.51. The company has a market cap of $16.55 billion, a PE ratio of 21.96, a PEG ratio of 1.64 and a beta of 1.19. Maxim Integrated Products Inc. has a one year low of $46.05 and a one year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 26th. The semiconductor company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $633.10 million during the quarter, compared to the consensus estimate of $630.39 million. Maxim Integrated Products had a return on equity of 38.37% and a net margin of 18.84%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. sell-side analysts expect that Maxim Integrated Products Inc. will post 3.1 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 30th were given a dividend of $0.46 per share. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, August 29th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

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

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