TD Asset Management Inc. lifted its stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 42.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 715,187 shares of the semiconductor company’s stock after purchasing an additional 212,014 shares during the period. TD Asset Management Inc. owned 0.26% of Maxim Integrated Products worth $42,783,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in MXIM. Quadrant Capital Group LLC raised its stake in shares of Maxim Integrated Products by 328.1% during the 1st quarter. Quadrant Capital Group LLC now owns 488 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 374 shares in the last quarter. First Personal Financial Services raised its stake in Maxim Integrated Products by 76.9% in 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 during the period. CWM LLC raised its stake in Maxim Integrated Products by 38.5% in 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 during the period. Flagship Harbor Advisors LLC raised its stake in Maxim Integrated Products by 175.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 469 shares during the period. Finally, Tompkins Financial Corp raised its stake in Maxim Integrated Products by 574.6% in the 1st quarter. Tompkins Financial Corp now owns 850 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 724 shares during the period. Institutional investors own 93.69% of the company’s stock.
A number of research firms recently weighed in on MXIM. Stifel Nicolaus set a $61.00 price target on Maxim Integrated Products and gave the company a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 price target on the stock. in a research note on Thursday, July 25th. Bank of America restated a “neutral” rating and issued a $67.00 price target (up previously from $60.00) on shares of Maxim Integrated Products in a research note on Wednesday, May 1st. Barclays increased their price target on Maxim Integrated Products from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Finally, ValuEngine upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.75.
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 consensus estimate of $0.57. The company had revenue of $557.00 million for the quarter, compared to analyst estimates of $559.97 million. Maxim Integrated Products had a return on equity of 37.75% and a net margin of 35.76%. Maxim Integrated Products’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. Analysts forecast that Maxim Integrated Products Inc. will post 2.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, August 28th. 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 yield of 3.64%. Maxim Integrated Products’s dividend payout ratio (DPR) is 75.72%.
In related news, Director Joseph R. Bronson sold 12,600 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $56.07, for a total value of $706,482.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.00, for a total value of $142,500.00. The disclosure for this sale can be found here. Insiders sold 34,100 shares of company stock worth $1,964,877 over the last ninety days. 0.85% of the stock is currently 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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