World Asset Management Inc Cuts Stake in Maxim Integrated Products Inc. (NASDAQ:MXIM)

World Asset Management Inc lowered its stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,176 shares of the semiconductor company’s stock after selling 1,412 shares during the period. World Asset Management Inc’s holdings in Maxim Integrated Products were worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MXIM. ETF Managers Group LLC grew its stake in Maxim Integrated Products by 8.5% during the 1st quarter. ETF Managers Group LLC now owns 2,414 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 190 shares in the last quarter. Valley National Advisers Inc. grew its stake in Maxim Integrated Products by 1.2% during the 1st quarter. Valley National Advisers Inc. now owns 17,053 shares of the semiconductor company’s stock valued at $907,000 after acquiring an additional 197 shares in the last quarter. CWM LLC grew its stake in Maxim Integrated Products by 38.5% during the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 230 shares in the last quarter. O Shares Investment Advisers LLC grew its stake in Maxim Integrated Products by 1.6% during the 1st quarter. O Shares Investment Advisers LLC now owns 17,564 shares of the semiconductor company’s stock valued at $934,000 after acquiring an additional 274 shares in the last quarter. Finally, First Personal Financial Services grew its stake in Maxim Integrated Products by 76.9% during the 1st quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 297 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

MXIM has been the subject of several research reports. ValuEngine raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Benchmark initiated coverage on shares of Maxim Integrated Products in a research note on Thursday. They set a “hold” rating for the company. Deutsche Bank set a $70.00 price objective on shares of Maxim Integrated Products and gave the company a “buy” rating in a research note on Friday, July 26th. Citigroup set a $62.00 price objective on shares of Maxim Integrated Products and gave the company a “hold” rating in a research note on Wednesday. Finally, Bank of America reaffirmed a “neutral” rating and set a $67.00 price objective (up previously from $60.00) on shares of Maxim Integrated Products in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $61.75.

In other news, VP Bruce E. Kiddoo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $58.52, for a total value of $292,600.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tunc Doluca sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.00, for a total transaction of $142,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $1,118,220. Company insiders own 0.85% of the company’s stock.

Shares of MXIM stock traded down $1.02 during trading hours on Friday, hitting $55.99. The company had a trading volume of 89,155 shares, compared to its average volume of 1,126,697. The business’s fifty day moving average is $60.59. The company has a quick ratio of 5.77, a current ratio of 6.46 and a debt-to-equity ratio of 0.60. Maxim Integrated Products Inc. has a fifty-two week low of $46.64 and a fifty-two week high of $65.73. The firm has a market capitalization of $17.53 billion, a PE ratio of 23.06, a PEG ratio of 2.07 and a beta of 1.42.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Maxim Integrated Products had a net margin of 27.36% and a return on equity of 40.16%. The firm had revenue of $557.00 million for the quarter, compared to analyst estimates of $559.97 million. During the same period in the prior year, the business posted $0.73 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. Equities research analysts expect that Maxim Integrated Products Inc. will post 2.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.48 dividend. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, August 28th. Maxim Integrated Products’s dividend payout ratio is currently 75.72%.

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

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