Maxim Integrated Products Inc. (MXIM) Holdings Trimmed by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC lessened its stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 3.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 446,255 shares of the semiconductor company’s stock after selling 15,466 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.16% of Maxim Integrated Products worth $25,164,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Capital Advisors Ltd. LLC purchased a new position in shares of Maxim Integrated Products during the third quarter worth about $114,000. Legacy Advisors LLC purchased a new position in shares of Maxim Integrated Products during the third quarter worth about $116,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Maxim Integrated Products during the second quarter worth about $117,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Maxim Integrated Products by 91.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 989 shares in the last quarter. Finally, First Hawaiian Bank purchased a new position in shares of Maxim Integrated Products during the third quarter worth about $148,000. 90.87% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on MXIM. Zacks Investment Research lowered Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Friday, August 10th. JPMorgan Chase & Co. boosted their price objective on Maxim Integrated Products from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. KeyCorp boosted their price objective on Maxim Integrated Products from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, MKM Partners boosted their price objective on Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.76.

Shares of MXIM opened at $51.91 on Friday. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.49 and a beta of 1.28. The company has a quick ratio of 3.67, a current ratio of 4.03 and a debt-to-equity ratio of 0.51. Maxim Integrated Products Inc. has a 1 year low of $46.85 and a 1 year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $635.19 million. Maxim Integrated Products had a return on equity of 41.60% and a net margin of 20.06%. Maxim Integrated Products’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Sell-side analysts anticipate that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, November 28th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

In other Maxim Integrated Products news, VP Vivek Jain sold 10,474 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $61.87, for a total value of $648,026.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $63.00, for a total value of $1,575,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,379 shares of company stock valued at $3,339,696. 0.85% of the stock is owned by insiders.

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.

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

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