Maxim Integrated Products Inc. (MXIM) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 1.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 415,531 shares of the semiconductor company’s stock after selling 7,618 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.15% of Maxim Integrated Products worth $23,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Krane Funds Advisors LLC lifted its holdings in Maxim Integrated Products by 20.8% during the second quarter. Krane Funds Advisors LLC now owns 10,882 shares of the semiconductor company’s stock valued at $638,000 after purchasing an additional 1,876 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Maxim Integrated Products during the second quarter valued at about $578,000. Kiwi Wealth Investments Limited Partnership purchased a new stake in Maxim Integrated Products during the second quarter valued at about $5,876,000. Argent Trust Co lifted its holdings in Maxim Integrated Products by 27.3% during the second quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Maxim Integrated Products by 1.4% during the second quarter. Van ECK Associates Corp now owns 696,612 shares of the semiconductor company’s stock valued at $40,863,000 after buying an additional 9,596 shares during the period. 90.73% of the stock is currently owned by institutional investors and hedge funds.

MXIM stock opened at $52.64 on Thursday. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.32 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.64 and a beta of 1.28. Maxim Integrated Products Inc. has a 1-year low of $46.85 and a 1-year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The company had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $635.19 million. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. Maxim Integrated Products’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, November 28th. Maxim Integrated Products’s dividend payout ratio (DPR) is 67.90%.

MXIM has been the topic of several analyst reports. BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Maxim Group reiterated a “hold” rating on shares of Maxim Integrated Products in a research report on Friday, July 27th. KeyCorp upped their price target on Maxim Integrated Products from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. JPMorgan Chase & Co. upped their price target on Maxim Integrated Products from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Finally, Stifel Nicolaus upped their price target on Maxim Integrated Products from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $60.76.

In related news, VP Sumeet Gagneja sold 471 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $60.74, for a total value of $28,608.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mary Ann Wright sold 440 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $60.43, for a total transaction of $26,589.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,379 shares of company stock worth $1,764,696. 0.85% of the stock is owned by company insiders.

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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.

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

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