Maxim Integrated Products, Inc. (MXIM) Shares Sold by Trillium Asset Management LLC
Trillium Asset Management LLC lowered its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 5.8% during the second quarter, Holdings Channel reports. The firm owned 161,715 shares of the semiconductor company’s stock after selling 9,906 shares during the period. Trillium Asset Management LLC’s holdings in Maxim Integrated Products were worth $7,261,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of 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 during the period. OppenheimerFunds Inc. raised its position in shares of 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 during the period. American Century Companies Inc. raised its position in shares of 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 during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Maxim Integrated Products during the first quarter worth approximately $41,874,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Maxim Integrated Products during the first quarter worth approximately $41,874,000. 90.20% of the stock is currently owned by institutional investors.
Shares of Maxim Integrated Products, Inc. (MXIM) opened at 45.44 on Tuesday. The firm’s 50-day moving average price is $45.50 and its 200-day moving average price is $45.55. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 22.95 and a beta of 1.04. Maxim Integrated Products, Inc. has a 12 month low of $37.25 and a 12 month high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.45% and a net margin of 24.90%. The company had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be issued a $0.36 dividend. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is 66.33%.
Maxim Integrated Products declared that its board has authorized a stock repurchase program on Thursday, July 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
MXIM has been the topic of a number of research analyst reports. BidaskClub lowered Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research raised Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Monday, April 24th. Evercore ISI reaffirmed an “in-line” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Finally, UBS AG reaffirmed a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Maxim Integrated Products in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $47.61.
In other Maxim Integrated Products news, insider Bryan Preeshl sold 13,586 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $47.78, for a total value of $649,139.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Bruce E. Kiddoo sold 10,000 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.00, for a total value of $470,000.00. The disclosure for this sale can be found here. Insiders sold 142,548 shares of company stock valued at $6,711,961 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
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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