Mackay Shields LLC Takes $2.10 Million Position in Maxim Integrated Products Inc. (NASDAQ:MXIM)

Mackay Shields LLC purchased a new stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 41,204 shares of the semiconductor company’s stock, valued at approximately $2,095,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MXIM. Bank of New York Mellon Corp lifted its holdings in shares of Maxim Integrated Products by 897,788.1% in the third quarter. Bank of New York Mellon Corp now owns 10,191,030 shares of the semiconductor company’s stock worth $574,673,000 after buying an additional 10,189,895 shares in the last quarter. American International Group Inc. raised its stake in Maxim Integrated Products by 27,390.1% during the fourth quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock valued at $388,398,000 after purchasing an additional 7,610,336 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Maxim Integrated Products by 8,495.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,356,863 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 3,317,811 shares in the last quarter. Northern Trust Corp raised its stake in Maxim Integrated Products by 51.0% during the fourth quarter. Northern Trust Corp now owns 3,706,020 shares of the semiconductor company’s stock valued at $188,452,000 after purchasing an additional 1,252,400 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $215,856,000 after purchasing an additional 1,160,574 shares in the last quarter. 98.56% of the stock is owned by institutional investors.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $54.55, for a total transaction of $272,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Ann Wright sold 1,564 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $51.68, for a total transaction of $80,827.52. The disclosure for this sale can be found here. Insiders sold a total of 62,880 shares of company stock valued at $3,476,301 over the last ninety days. 0.85% of the stock is currently owned by insiders.

Shares of Maxim Integrated Products stock traded down $0.28 during midday trading on Monday, hitting $59.02. The company had a trading volume of 1,265,832 shares, compared to its average volume of 2,075,575. The firm has a market capitalization of $16.21 billion, a P/E ratio of 21.78, a PEG ratio of 2.04 and a beta of 1.31. The company has a quick ratio of 5.85, a current ratio of 6.54 and a debt-to-equity ratio of 0.57. Maxim Integrated Products Inc. has a 12-month low of $46.64 and a 12-month high of $63.68.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Tuesday, January 29th. The semiconductor company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The company had revenue of $576.91 million during the quarter, compared to analysts’ expectations of $590.50 million. Maxim Integrated Products had a net margin of 28.72% and a return on equity of 42.09%. As a group, research analysts anticipate that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on MXIM shares. Evercore ISI reduced their target price on shares of Maxim Integrated Products from $60.00 to $55.00 in a research note on Monday, January 14th. Bank of America downgraded shares of Maxim Integrated Products from a “buy” rating to a “neutral” rating in a research note on Friday, January 4th. Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a report on Wednesday, January 30th. Cowen began coverage on shares of Maxim Integrated Products in a report on Friday, February 22nd. They set a “market perform” rating and a $56.00 target price on the stock. Finally, BidaskClub lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.67.

COPYRIGHT VIOLATION WARNING: “Mackay Shields LLC Takes $2.10 Million Position in Maxim Integrated Products Inc. (NASDAQ:MXIM)” was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/41204-shares-in-maxim-integrated-products-inc-mxim-purchased-by-mackay-shields-llc.html.

Maxim Integrated Products 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.

Read More: Portfolio Manager

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

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.