Westwood Holdings Group Inc. lowered its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,435 shares of the semiconductor company’s stock after selling 5,350 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Maxim Integrated Products were worth $5,393,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc lifted its position in shares of Maxim Integrated Products by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 28,025,275 shares of the semiconductor company’s stock worth $1,580,346,000 after acquiring an additional 150,909 shares during the period. OppenheimerFunds Inc. lifted its position in shares of Maxim Integrated Products by 0.5% in the 1st quarter. OppenheimerFunds Inc. now owns 7,859,316 shares of the semiconductor company’s stock worth $417,880,000 after acquiring an additional 37,688 shares during the period. American International Group Inc. lifted its position in shares of Maxim Integrated Products by 27,390.1% in the 4th quarter. American International Group Inc. now owns 7,638,121 shares of the semiconductor company’s stock worth $388,398,000 after acquiring an additional 7,610,336 shares during the period. Geode Capital Management LLC lifted its position in shares of Maxim Integrated Products by 37.6% in the 4th quarter. Geode Capital Management LLC now owns 4,250,844 shares of the semiconductor company’s stock worth $215,856,000 after acquiring an additional 1,160,574 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Maxim Integrated Products by 1.6% in the 1st quarter. Northern Trust Corp now owns 3,765,614 shares of the semiconductor company’s stock worth $200,218,000 after acquiring an additional 59,594 shares during the period. Institutional investors own 93.40% of the company’s stock.
In other news, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $54.00, for a total value of $135,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Bruce E. Kiddoo sold 5,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $58.52, for a total value of $292,600.00. The disclosure for this sale can be found here. Insiders sold a total of 57,746 shares of company stock valued at $3,400,293 over the last three months. Insiders own 0.85% of the company’s stock.
Shares of NASDAQ MXIM traded down $1.57 during midday trading on Friday, hitting $56.33. The stock had a trading volume of 1,208,899 shares, compared to its average volume of 1,752,245. The stock has a market capitalization of $15.63 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.38. Maxim Integrated Products Inc. has a fifty-two week low of $46.64 and a fifty-two week high of $63.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.77 and a current ratio of 6.46.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The company had revenue of $542.38 million during the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.73 EPS. Equities research analysts forecast that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.27%. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 67.90%.
A number of equities analysts have recently issued reports on the company. Cowen reissued a “market perform” rating and issued a $63.00 target price (up from $56.00) on shares of Maxim Integrated Products in a report on Wednesday, May 1st. ValuEngine cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Friday, May 10th. BidaskClub cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Deutsche Bank increased their target price on Maxim Integrated Products from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.83.
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.
Further Reading: Price to Earnings Ratio (PE)
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