First Mercantile Trust Co. lowered its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 15,763 shares of the company’s stock after selling 794 shares during the period. First Mercantile Trust Co.’s holdings in Maxim Integrated Products were worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of Maxim Integrated Products by 6.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 37,370 shares of the company’s stock valued at $1,420,000 after buying an additional 2,390 shares during the last quarter. Norges Bank acquired a new position in shares of Maxim Integrated Products during the fourth quarter valued at approximately $112,624,000. Aperio Group LLC boosted its position in shares of Maxim Integrated Products by 14.0% in the first quarter. Aperio Group LLC now owns 54,917 shares of the company’s stock valued at $2,020,000 after buying an additional 6,759 shares during the last quarter. Pacad Investment Ltd. acquired a new position in shares of Maxim Integrated Products during the first quarter valued at approximately $883,000. Finally, Ngam Advisors L.P. boosted its position in shares of Maxim Integrated Products by 448.8% in the first quarter. Ngam Advisors L.P. now owns 73,683 shares of the company’s stock valued at $2,710,000 after buying an additional 60,256 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) opened at 39.25 on Friday. The firm has a market capitalization of $11.13 billion, a P/E ratio of 49.68 and a beta of 1.02. The stock has a 50 day moving average of $40.15 and a 200-day moving average of $37.61. Maxim Integrated Products Inc. has a 1-year low of $30.28 and a 1-year high of $42.37.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $566 million for the quarter, compared to the consensus estimate of $575.46 million. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. On average, equities analysts expect that Maxim Integrated Products Inc. will post $1.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.33 dividend. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, August 16th. Maxim Integrated Products’s payout ratio is 169.23%.

MXIM has been the subject of several recent research reports. Goldman Sachs Group Inc. initiated coverage on shares of Maxim Integrated Products in a report on Thursday, June 2nd. They set a “neutral” rating and a $35.00 target price for the company. Zacks Investment Research cut shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Thursday, June 23rd. Bank of America Corp. cut shares of Maxim Integrated Products from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $39.00 in a report on Monday, June 27th. Royal Bank Of Canada reduced their target price on shares of Maxim Integrated Products from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Finally, Maxim Group restated an “outperform” rating and set a $40.00 target price (down previously from $42.00) on shares of Maxim Integrated Products in a report on Saturday, July 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.14.

In other news, Director William D. Watkins sold 60,786 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.08, for a total transaction of $2,497,088.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tunc Doluca sold 10,000 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $35.53, for a total value of $355,300.00. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Maxim Integrated Products Company Profile

Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.

5 Day Chart for NASDAQ:MXIM

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