Maxim Integrated Products Inc. (MXIM) Shares Sold by Somerset Trust Co

Somerset Trust Co lessened its holdings in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,036 shares of the semiconductor company’s stock after selling 1,518 shares during the period. Somerset Trust Co’s holdings in Maxim Integrated Products were worth $2,041,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MXIM. Prudential Financial Inc. increased its holdings in Maxim Integrated Products by 25.2% during the 2nd quarter. Prudential Financial Inc. now owns 62,035 shares of the semiconductor company’s stock valued at $2,785,000 after purchasing an additional 12,500 shares during the period. Franklin Resources Inc. increased its holdings in Maxim Integrated Products by 42.0% during the 2nd quarter. Franklin Resources Inc. now owns 120,520 shares of the semiconductor company’s stock valued at $5,412,000 after purchasing an additional 35,668 shares during the period. AXA increased its holdings in Maxim Integrated Products by 5.6% during the 2nd quarter. AXA now owns 7,583 shares of the semiconductor company’s stock valued at $341,000 after purchasing an additional 400 shares during the period. Alliancebernstein L.P. increased its holdings in Maxim Integrated Products by 5.7% during the 2nd quarter. Alliancebernstein L.P. now owns 214,569 shares of the semiconductor company’s stock valued at $9,634,000 after purchasing an additional 11,485 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Maxim Integrated Products by 16.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after acquiring an additional 343 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Several research firms have weighed in on MXIM. Morgan Stanley reaffirmed an “underweight” rating and set a $40.00 price objective on shares of Maxim Integrated Products in a research report on Wednesday, September 20th. SunTrust Banks lifted their price objective on Maxim Integrated Products to $53.00 and gave the company a “hold” rating in a research report on Friday, October 20th. Barclays lifted their price objective on Maxim Integrated Products from $46.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Loop Capital reaffirmed a “buy” rating and set a $57.00 price objective (up from $53.00) on shares of Maxim Integrated Products in a research report on Friday, October 20th. Finally, KeyCorp lifted their price objective on Maxim Integrated Products from $49.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.24.

Maxim Integrated Products Inc. (NASDAQ:MXIM) traded down $0.72 during mid-day trading on Wednesday, reaching $54.33. The company had a trading volume of 2,300,100 shares, compared to its average volume of 2,096,860. The company has a market cap of $15,600.00, a PE ratio of 26.50, a PEG ratio of 2.17 and a beta of 1.10. Maxim Integrated Products Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.43. 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 (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million for the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. analysts predict that Maxim Integrated Products Inc. will post 2.47 EPS for the current year.

In related news, CEO Tunc Doluca sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $52.16, for a total value of $1,564,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Vivek Jain sold 6,793 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $52.18, for a total value of $354,458.74. The disclosure for this sale can be found here. Insiders sold a total of 234,819 shares of company stock worth $12,313,336 over the last ninety days. 1.11% of the stock is currently owned by insiders.

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

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