Xact Kapitalforvaltning AB increased its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,734 shares of the semiconductor company’s stock after buying an additional 315 shares during the period. Xact Kapitalforvaltning AB’s holdings in Maxim Integrated Products were worth $1,380,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP boosted its position in Maxim Integrated Products by 115,956.1% in the first quarter. Korea Investment CORP now owns 388,788 shares of the semiconductor company’s stock worth $17,480,000 after buying an additional 388,453 shares during the period. Highbridge Capital Management LLC bought a new position in Maxim Integrated Products during the fourth quarter worth approximately $1,656,000. Searle & CO. bought a new position in Maxim Integrated Products during the fourth quarter worth approximately $717,000. Affinity Wealth Management bought a new position in Maxim Integrated Products during the first quarter worth approximately $267,000. Finally, California Public Employees Retirement System boosted its position in Maxim Integrated Products by 2.0% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock worth $30,730,000 after buying an additional 13,300 shares during the period. 89.40% of the stock is owned by hedge funds and other institutional investors.
Maxim Integrated Products, Inc. (MXIM) opened at 47.10 on Monday. The firm’s 50-day moving average price is $46.83 and its 200 day moving average price is $44.29. The firm has a market cap of $13.31 billion, a P/E ratio of 27.07 and a beta of 1.04. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The company had revenue of $581 million for the quarter, compared to analysts’ expectations of $575.83 million. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. Maxim Integrated Products’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Equities analysts forecast that Maxim Integrated Products, Inc. will post $2.12 earnings per share for the current fiscal year.
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A number of equities analysts have commented on MXIM shares. MKM Partners started coverage on shares of Maxim Integrated Products in a research report on Friday, April 7th. They set a “neutral” rating and a $48.00 price objective for the company. Macquarie started coverage on shares of Maxim Integrated Products in a research report on Friday, March 31st. They set an “outperform” rating and a $52.00 price objective for the company. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 price objective (up from $46.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $44.00 target price (up previously from $41.00) on shares of Maxim Integrated Products in a report on Tuesday, April 25th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Buy” and an average price target of $47.39.
In related news, CEO Tunc Doluca sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $44.49, for a total transaction of $533,880.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Christopher J. Neil sold 51,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $44.24, for a total value of $2,256,240.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,548 shares of company stock worth $11,148,556. 1.30% of the stock is currently owned by insiders.
About Maxim Integrated Products
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 caters to automotive, communications and data center, computing, consumer and industrial markets.
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