Pictet Asset Management Ltd. Sells 4,100 Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM)

Pictet Asset Management Ltd. reduced its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 3.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 120,757 shares of the semiconductor company’s stock after selling 4,100 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Maxim Integrated Products were worth $7,224,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. ETF Managers Group LLC boosted its holdings in shares of Maxim Integrated Products by 8.5% in the 1st quarter. ETF Managers Group LLC now owns 2,414 shares of the semiconductor company’s stock worth $128,000 after buying an additional 190 shares during the last quarter. Financial Advisors Network Inc. boosted its holdings in shares of Maxim Integrated Products by 4.6% in the 2nd quarter. Financial Advisors Network Inc. now owns 6,137 shares of the semiconductor company’s stock worth $332,000 after buying an additional 272 shares during the last quarter. O Shares Investment Advisers LLC boosted its holdings in shares of Maxim Integrated Products by 1.6% in the 1st quarter. O Shares Investment Advisers LLC now owns 17,564 shares of the semiconductor company’s stock worth $934,000 after buying an additional 274 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Maxim Integrated Products by 43.8% in the 2nd quarter. Parallel Advisors LLC now owns 903 shares of the semiconductor company’s stock worth $54,000 after buying an additional 275 shares during the last quarter. Finally, Coastal Investment Advisors Inc. boosted its holdings in shares of Maxim Integrated Products by 97.5% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 559 shares of the semiconductor company’s stock worth $34,000 after buying an additional 276 shares during the last quarter. 92.34% of the stock is currently owned by institutional investors.

In other news, VP Bruce E. Kiddoo sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $57.21, for a total value of $572,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 8,310 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $54.62, for a total transaction of $453,892.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,568 shares of company stock worth $6,581,292. Insiders own 0.85% of the company’s stock.

MXIM has been the topic of a number of research analyst reports. ValuEngine raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Maxim Group reaffirmed a “sell” rating on shares of Maxim Integrated Products in a report on Friday. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $69.00 price objective on the stock. in a report on Thursday, July 25th. Citigroup set a $62.00 price objective on shares of Maxim Integrated Products and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Cowen reaffirmed a “market perform” rating and set a $57.00 price objective (down from $63.00) on shares of Maxim Integrated Products in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus price target of $61.44.

NASDAQ MXIM traded down $0.91 during trading on Monday, hitting $58.68. 37,147 shares of the company’s stock traded hands, compared to its average volume of 1,721,514. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.33 and a beta of 1.39. Maxim Integrated Products Inc. has a 12-month low of $46.64 and a 12-month high of $65.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.18 and a current ratio of 6.84. The business has a 50 day moving average of $56.09 and a 200-day moving average of $56.78.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. The business had revenue of $557.00 million for the quarter, compared to the consensus estimate of $559.97 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year. On average, analysts expect that Maxim Integrated Products Inc. will post 2.2 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 28th. Maxim Integrated Products’s dividend payout ratio is presently 79.01%.

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.

Further Reading: How to find the components of the quick ratio

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

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