Advisors Asset Management Inc. Sells 136,014 Shares of Maxim Integrated Products Inc. (MXIM)

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Advisors Asset Management Inc. trimmed its position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 41.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,584 shares of the semiconductor company’s stock after selling 136,014 shares during the period. Advisors Asset Management Inc. owned approximately 0.07% of Maxim Integrated Products worth $11,414,000 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. Kiley Juergens Wealth Management LLC acquired a new position in Maxim Integrated Products during the 2nd quarter worth $117,000. Dynamic Technology Lab Private Ltd acquired a new position in Maxim Integrated Products during the 1st quarter worth $205,000. Financial Gravity Wealth Inc. acquired a new position in Maxim Integrated Products during the 1st quarter worth $236,000. Hartford Investment Management Co. acquired a new position in Maxim Integrated Products during the 2nd quarter worth $270,000. Finally, Argent Trust Co grew its holdings in Maxim Integrated Products by 27.3% during the 2nd quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 1,019 shares in the last quarter. 90.73% of the stock is owned by institutional investors and hedge funds.

In related news, Director Mary Ann Wright sold 440 shares of Maxim Integrated Products stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $60.43, for a total value of $26,589.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tunc Doluca sold 5,000 shares of Maxim Integrated Products stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total transaction of $284,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,905 shares of company stock worth $1,116,669. 0.85% of the stock is currently owned by insiders.

Several research analysts have weighed in on MXIM shares. Morgan Stanley decreased their price objective on shares of Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, October 3rd. Stifel Nicolaus lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $65.00 in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. ValuEngine downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. Finally, BidaskClub downgraded shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.76.

Shares of Maxim Integrated Products stock traded down $1.13 during trading hours on Friday, reaching $52.09. The company’s stock had a trading volume of 5,706,060 shares, compared to its average volume of 3,498,099. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.27 and a current ratio of 3.57. Maxim Integrated Products Inc. has a one year low of $46.85 and a one year high of $74.94. The company has a market cap of $14.58 billion, a P/E ratio of 19.22, a PEG ratio of 1.67 and a beta of 1.28.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The firm had revenue of $638.50 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. As a group, sell-side analysts predict that Maxim Integrated Products Inc. will post 2.71 earnings per share for the current year.

The company 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. The ex-dividend date is Wednesday, November 28th. This represents a $1.84 annualized dividend and a yield of 3.53%. Maxim Integrated Products’s dividend payout ratio is presently 67.90%.

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About Maxim Integrated Products

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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