Natixis Advisors L.P. cut its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,652 shares of the semiconductor company’s stock after selling 1,507 shares during the period. Natixis Advisors L.P.’s holdings in Maxim Integrated Products were worth $3,748,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Maxim Integrated Products by 37.6% during the fourth quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after purchasing an additional 1,160,574 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Maxim Integrated Products by 28.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,645 shares of the semiconductor company’s stock worth $1,045,000 after buying an additional 4,370 shares in the last quarter. Stevens Capital Management LP purchased a new position in Maxim Integrated Products during the first quarter worth approximately $359,000. Boston Partners lifted its position in Maxim Integrated Products by 1.3% during the first quarter. Boston Partners now owns 47,795 shares of the semiconductor company’s stock worth $2,541,000 after buying an additional 619 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Maxim Integrated Products by 3.7% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 26,521 shares of the semiconductor company’s stock worth $1,410,000 after buying an additional 952 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Vivek Jain sold 12,683 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $54.92, for a total value of $696,550.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Watkins sold 8,310 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $54.62, for a total value of $453,892.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,068 shares of company stock worth $4,396,467. Insiders own 0.85% of the company’s stock.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $557.00 million for the quarter, compared to analysts’ expectations of $559.97 million. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. On average, research analysts predict that Maxim Integrated Products Inc. will post 2.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.46. Maxim Integrated Products’s dividend payout ratio is currently 79.01%.
Several equities research analysts have issued reports on the company. ValuEngine raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. BidaskClub raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, September 3rd. Deutsche Bank set a $70.00 price target on Maxim Integrated Products and gave the stock a “buy” rating in a report on Friday, July 26th. Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 price target for the company. in a report on Thursday, July 25th. Finally, Citigroup set a $62.00 target price on Maxim Integrated Products and gave the company a “hold” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.44.
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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