Commerce Bank raised its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 39.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,119 shares of the semiconductor company’s stock after purchasing an additional 3,680 shares during the period. Commerce Bank’s holdings in Maxim Integrated Products were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of MXIM. Bank of New York Mellon Corp raised its position in Maxim Integrated Products by 29.9% during the third quarter. Bank of New York Mellon Corp now owns 13,758,325 shares of the semiconductor company’s stock valued at $656,409,000 after purchasing an additional 3,164,871 shares during the period. BlackRock Inc. raised its position in Maxim Integrated Products by 13.4% during the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after purchasing an additional 2,358,743 shares during the period. American Century Companies Inc. raised its position in Maxim Integrated Products by 17.2% during the third quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after purchasing an additional 2,087,911 shares during the period. Principal Financial Group Inc. raised its position in Maxim Integrated Products by 483.2% during the second quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock valued at $100,403,000 after purchasing an additional 1,852,730 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new stake in Maxim Integrated Products during the second quarter valued at approximately $73,792,000. Institutional investors and hedge funds own 90.48% of the company’s stock.
Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded down $0.14 during mid-day trading on Wednesday, reaching $51.50. The company had a trading volume of 1,328,480 shares, compared to its average volume of 2,048,609. The stock has a market cap of $14,471.23, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.14 and a quick ratio of 13.09. Maxim Integrated Products, Inc. has a one year low of $38.18 and a one year high of $55.43.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.80%. Maxim Integrated Products’s payout ratio is currently 70.24%.
In related news, CEO Tunc Doluca sold 30,000 shares of Maxim Integrated Products stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $52.16, for a total value of $1,564,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Neil sold 3,500 shares of Maxim Integrated Products stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.50, for a total value of $166,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 203,527 shares of company stock valued at $10,587,830 in the last quarter. Company insiders own 1.11% of the company’s stock.
MXIM has been the topic of several recent analyst reports. Drexel Hamilton reiterated a “buy” rating and issued a $52.00 price target on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Morgan Stanley increased their price target on Maxim Integrated Products from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. Loop Capital reiterated a “buy” rating and issued a $53.00 price target on shares of Maxim Integrated Products in a report on Thursday, August 31st. Wells Fargo & Company increased their price target on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Finally, Zacks Investment Research cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.14.
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Maxim Integrated Products 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 caters to automotive, communications and data center, computing, consumer and industrial markets.
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