Cullen Frost Bankers Inc. decreased its position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,367 shares of the semiconductor company’s stock after selling 1,548 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Maxim Integrated Products were worth $832,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. FTB Advisors Inc. bought a new stake in Maxim Integrated Products during the third quarter worth about $29,000. Coastal Investment Advisors Inc. lifted its position in Maxim Integrated Products by 97.5% during the second quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 276 shares during the period. Synovus Financial Corp lifted its position in Maxim Integrated Products by 60.3% during the third quarter. Synovus Financial Corp now owns 625 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 235 shares during the period. TCI Wealth Advisors Inc. raised its stake in Maxim Integrated Products by 58.8% during the third quarter. TCI Wealth Advisors Inc. now owns 670 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 248 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Maxim Integrated Products by 175.7% during the second quarter. Flagship Harbor Advisors LLC now owns 736 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 469 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.
In other news, VP Vivek Jain sold 12,683 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $54.92, for a total value of $696,550.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce E. Kiddoo sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $57.21, for a total value of $572,100.00. The disclosure for this sale can be found here. Insiders sold 123,468 shares of company stock valued at $7,146,585 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Shares of NASDAQ MXIM opened at $59.55 on Friday. The company has a current ratio of 7.08, a quick ratio of 6.39 and a debt-to-equity ratio of 0.56. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.34 and a beta of 1.41. Maxim Integrated Products Inc. has a 12 month low of $46.64 and a 12 month high of $65.73. The stock has a 50-day moving average price of $57.97 and a two-hundred day moving average price of $57.52.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Maxim Integrated Products had a return on equity of 34.55% and a net margin of 34.87%. The company had revenue of $553.00 million during the quarter, compared to the consensus estimate of $530.99 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm’s revenue was down 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Maxim Integrated Products’s dividend payout ratio is currently 79.01%.
Several research analysts have commented on MXIM shares. Bank of America boosted their target price on Maxim Integrated Products from $60.00 to $65.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Maxim Group downgraded Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on Maxim Integrated Products from $69.00 to $72.00 in a research note on Wednesday, October 30th. Stifel Nicolaus lowered their target price on Maxim Integrated Products from $61.00 to $56.00 in a research note on Thursday, August 29th. Finally, Zacks Investment Research downgraded Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $59.00 target price for the company. in a research note on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.08.
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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