State of Alaska Department of Revenue increased its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,435 shares of the semiconductor company’s stock after buying an additional 7,838 shares during the period. State of Alaska Department of Revenue’s holdings in Maxim Integrated Products were worth $5,380,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of MXIM. Point72 Asia Hong Kong Ltd bought a new position in Maxim Integrated Products in the 1st quarter valued at approximately $106,000. Kiley Juergens Wealth Management LLC bought a new position in Maxim Integrated Products in the 2nd quarter valued at approximately $117,000. Dynamic Technology Lab Private Ltd bought a new position in Maxim Integrated Products in the 1st quarter valued at approximately $205,000. Hilltop Holdings Inc. bought a new position in Maxim Integrated Products in the 1st quarter valued at approximately $218,000. Finally, Financial Gravity Wealth Inc. bought a new position in Maxim Integrated Products in the 1st quarter valued at approximately $236,000. Institutional investors own 90.72% of the company’s stock.
NASDAQ MXIM opened at $51.80 on Friday. The firm has a market cap of $15.68 billion, a PE ratio of 19.11, a PEG ratio of 1.56 and a beta of 1.19. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. Maxim Integrated Products Inc. has a 1-year low of $49.14 and a 1-year high of $74.94.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $630.39 million. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. As a group, analysts forecast that Maxim Integrated Products Inc. will post 3.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.55%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, August 29th. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.
Several research firms recently issued reports on MXIM. BMO Capital Markets upped their price objective on Maxim Integrated Products from $55.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a research report on Friday, July 27th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, MKM Partners upped their price objective on Maxim Integrated Products to $62.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $61.89.
In other news, Director Mary Ann Wright sold 440 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $60.43, for a total value of $26,589.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tunc Doluca sold 5,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,879 shares of company stock worth $3,553,301 over the last three months. Insiders own 1.11% of the company’s stock.
About Maxim Integrated Products
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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