Maxim Integrated Products, Inc. (MXIM) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,612 shares of the semiconductor company’s stock after selling 41,359 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Maxim Integrated Products worth $22,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Maxim Integrated Products by 483.2% during the 2nd quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock worth $100,403,000 after acquiring an additional 1,852,730 shares in the last quarter. Aberdeen Asset Management PLC UK grew its holdings in Maxim Integrated Products by 1,402.5% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 363,196 shares of the semiconductor company’s stock worth $16,307,000 after acquiring an additional 339,024 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Maxim Integrated Products by 9.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 190,924 shares of the semiconductor company’s stock worth $8,572,000 after acquiring an additional 16,744 shares in the last quarter. Shelton Capital Management grew its holdings in Maxim Integrated Products by 24.6% during the 2nd quarter. Shelton Capital Management now owns 21,335 shares of the semiconductor company’s stock worth $958,000 after acquiring an additional 4,218 shares in the last quarter. Finally, Federated Investors Inc. PA grew its holdings in Maxim Integrated Products by 1,536.5% during the 2nd quarter. Federated Investors Inc. PA now owns 327,522 shares of the semiconductor company’s stock worth $14,706,000 after acquiring an additional 307,509 shares in the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on MXIM. B. Riley reissued a “neutral” rating and set a $47.00 price objective on shares of Maxim Integrated Products in a report on Tuesday, September 12th. Drexel Hamilton raised their price objective on shares of Maxim Integrated Products from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, October 20th. SunTrust Banks raised their price objective on shares of Maxim Integrated Products to $53.00 and gave the stock a “hold” rating in a report on Friday, October 20th. Citigroup raised their price objective on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Finally, Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.24.

In related news, VP Vivek Jain sold 6,793 shares of Maxim Integrated Products stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $52.18, for a total value of $354,458.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William D. Watkins sold 19,650 shares of Maxim Integrated Products stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $51.49, for a total transaction of $1,011,778.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 222,617 shares of company stock worth $11,573,687. Insiders own 1.11% of the company’s stock.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at $53.51 on Tuesday. 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 52-week low of $38.18 and a 52-week high of $55.43. The stock has a market cap of $14,766.81, a PE ratio of 23.32, a PEG ratio of 2.07 and a beta of 1.10.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $576.80 million. During the same period last year, the firm posted $0.48 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. research analysts anticipate that Maxim Integrated Products, Inc. will post 2.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.69%. Maxim Integrated Products’s payout ratio is currently 70.24%.

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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 caters to automotive, communications and data center, computing, consumer and industrial markets.

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

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