Financial Management Professionals Inc. Buys Shares of 824 Maxim Integrated Products Inc. (NASDAQ:MXIM)

Financial Management Professionals Inc. bought a new stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 824 shares of the semiconductor company’s stock, valued at approximately $50,000.

Other institutional investors also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan grew its stake in shares of Maxim Integrated Products by 12.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,410 shares of the semiconductor company’s stock worth $1,176,000 after purchasing an additional 2,160 shares during the last quarter. FDx Advisors Inc. grew its stake in shares of Maxim Integrated Products by 23.1% in the 1st quarter. FDx Advisors Inc. now owns 28,986 shares of the semiconductor company’s stock worth $1,409,000 after purchasing an additional 5,440 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of Maxim Integrated Products by 28.3% in the 1st quarter. APG Asset Management N.V. now owns 431,031 shares of the semiconductor company’s stock worth $20,952,000 after purchasing an additional 94,980 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Maxim Integrated Products by 5,961.6% in the 1st quarter. Federated Hermes Inc. now owns 59,646 shares of the semiconductor company’s stock worth $2,899,000 after purchasing an additional 58,662 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Maxim Integrated Products by 0.7% in the 1st quarter. State Street Corp now owns 11,749,943 shares of the semiconductor company’s stock worth $571,165,000 after purchasing an additional 78,267 shares during the last quarter. 89.99% of the stock is currently owned by hedge funds and other institutional investors.

MXIM stock opened at $68.93 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 5.39 and a current ratio of 5.95. The stock has a market cap of $18.38 billion, a P/E ratio of 23.29, a P/E/G ratio of 2.92 and a beta of 1.31. The firm has a 50 day simple moving average of $62.24 and a 200 day simple moving average of $57.47. Maxim Integrated Products Inc. has a 52 week low of $41.93 and a 52 week high of $73.52.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The firm had revenue of $562.00 million during the quarter, compared to analysts’ expectations of $553.58 million. Maxim Integrated Products had a net margin of 37.00% and a return on equity of 35.31%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. Sell-side analysts predict that Maxim Integrated Products Inc. will post 2.25 EPS for the current year.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 60,000 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $72.38, for a total value of $4,342,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Vivek Jain sold 4,302 shares of Maxim Integrated Products stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.53, for a total transaction of $260,400.06. The disclosure for this sale can be found here. Insiders sold 137,446 shares of company stock valued at $8,907,136 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

Several research firms have recently weighed in on MXIM. Cowen lifted their target price on shares of Maxim Integrated Products from $51.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Barclays raised shares of Maxim Integrated Products from an “underweight” rating to a “hold” rating and set a $74.00 target price on the stock in a research report on Monday, July 13th. SunTrust Banks lifted their target price on shares of Maxim Integrated Products from $55.00 to $73.00 in a research report on Tuesday, July 14th. Zacks Investment Research raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating and set a $58.00 target price on the stock in a research report on Tuesday, April 28th. Finally, Oppenheimer began coverage on shares of Maxim Integrated Products in a research report on Wednesday, June 10th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.44.

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.

Featured Story: Understanding Analyst Recommendations

Want to see what other hedge funds are holding MXIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maxim Integrated Products Inc. (NASDAQ:MXIM).

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

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.