Maxim Integrated Products Inc. (MXIM) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 14.6% in the fourth quarter, Holdings Channel reports. The fund owned 211,207 shares of the semiconductor company’s stock after selling 36,157 shares during the period. Alliancebernstein L.P.’s holdings in Maxim Integrated Products were worth $11,042,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MXIM. BlackRock Inc. raised its stake in shares of Maxim Integrated Products by 11.0% in the fourth quarter. BlackRock Inc. now owns 21,341,356 shares of the semiconductor company’s stock worth $1,115,726,000 after acquiring an additional 2,108,322 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Maxim Integrated Products by 1,961.5% in the third quarter. Janus Henderson Group PLC now owns 1,057,761 shares of the semiconductor company’s stock worth $50,471,000 after acquiring an additional 1,006,451 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Maxim Integrated Products by 50.8% in the third quarter. Artisan Partners Limited Partnership now owns 2,477,908 shares of the semiconductor company’s stock worth $118,221,000 after acquiring an additional 834,443 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Maxim Integrated Products by 234.2% in the fourth quarter. Schroder Investment Management Group now owns 932,849 shares of the semiconductor company’s stock worth $48,770,000 after acquiring an additional 653,737 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Maxim Integrated Products in the third quarter worth about $24,428,000.

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A number of equities analysts have weighed in on MXIM shares. Morgan Stanley boosted their target price on shares of Maxim Integrated Products from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 13th. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Stifel Nicolaus boosted their price target on shares of Maxim Integrated Products from $57.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Maxim Group reissued a “hold” rating and set a $67.00 price target on shares of Maxim Integrated Products in a research note on Friday, January 26th. Finally, Drexel Hamilton reissued a “buy” rating and set a $63.00 price target (up from $60.00) on shares of Maxim Integrated Products in a research note on Friday, January 26th. Seventeen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $54.86.

In related news, CEO Tunc Doluca sold 21,202 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $52.57, for a total transaction of $1,114,589.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Ann Wright sold 440 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $60.72, for a total transaction of $26,716.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,630 shares of company stock valued at $14,410,267. Corporate insiders own 1.11% of the company’s stock.

MXIM stock opened at $58.82 on Friday. The stock has a market cap of $17,272.16, a P/E ratio of 44.23, a P/E/G ratio of 2.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.14 and a current ratio of 4.48. Maxim Integrated Products Inc. has a 1-year low of $43.35 and a 1-year high of $74.94.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.65. The firm had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $620.46 million. Maxim Integrated Products had a net margin of 16.08% and a return on equity of 32.59%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. equities analysts forecast that Maxim Integrated Products Inc. will post 2.64 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.36. Maxim Integrated Products’s payout ratio is currently 126.32%.

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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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