M&T Bank Corp cut its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,196 shares of the semiconductor company’s stock after selling 9,195 shares during the period. M&T Bank Corp owned approximately 0.11% of Maxim Integrated Products worth $17,227,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Maxim Integrated Products by 66.3% in the 2nd quarter. Pacer Advisors Inc. now owns 44,190 shares of the semiconductor company’s stock valued at $2,678,000 after buying an additional 17,615 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Maxim Integrated Products in the 2nd quarter valued at about $250,000. Miller Howard Investments Inc. NY bought a new stake in shares of Maxim Integrated Products in the 2nd quarter valued at about $3,758,000. GWM Advisors LLC grew its position in shares of Maxim Integrated Products by 29.7% in the 2nd quarter. GWM Advisors LLC now owns 8,075 shares of the semiconductor company’s stock valued at $489,000 after buying an additional 1,849 shares during the last quarter. Finally, Centric Wealth Management bought a new stake in shares of Maxim Integrated Products in the 2nd quarter valued at about $1,317,000. 89.99% of the stock is owned by hedge funds and other institutional investors.
Shares of MXIM opened at $68.09 on Friday. The company has a current ratio of 5.11, a quick ratio of 5.39 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 2.81 and a beta of 1.31. The stock has a 50 day moving average of $63.65 and a 200 day moving average of $57.78. Maxim Integrated Products Inc. has a 12 month low of $41.93 and a 12 month high of $73.52.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, August 26th.
In other news, SVP Bryan Preeshl sold 1,144 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $55.25, for a total value of $63,206.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tunc Doluca sold 3,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $54.00, for a total value of $162,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,446 shares of company stock valued at $8,907,136. 0.84% of the stock is owned by corporate insiders.
Several brokerages recently commented on MXIM. JPMorgan Chase & Co. cut their target price on Maxim Integrated Products from $75.00 to $73.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Goldman Sachs Group upgraded Maxim Integrated Products from a “sell” rating to a “neutral” rating and upped their target price for the company from $59.00 to $70.00 in a research report on Wednesday, July 15th. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 23rd. Stifel Nicolaus upped their target price on Maxim Integrated Products from $71.00 to $72.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $65.24.
Maxim Integrated Products Company Profile
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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