Securian Asset Management Inc Invests $1.44 Million in Maxim Integrated Products Inc. (MXIM)

February 11th, 2019 - 0 comments - Filed Under - by Mark James

Securian Asset Management Inc acquired a new position in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) during the 4th quarter, HoldingsChannel reports. The fund acquired 28,243 shares of the semiconductor company’s stock, valued at approximately $1,436,000.

Other hedge funds also recently made changes to their positions in the company. Manning & Napier Group LLC boosted its holdings in shares of Maxim Integrated Products by 19.6% during the third quarter. Manning & Napier Group LLC now owns 41,891 shares of the semiconductor company’s stock worth $2,361,000 after purchasing an additional 6,867 shares during the period. Bank of Montreal Can lifted its holdings in Maxim Integrated Products by 53.9% in the third quarter. Bank of Montreal Can now owns 300,059 shares of the semiconductor company’s stock worth $16,920,000 after buying an additional 105,123 shares during the period. First Hawaiian Bank purchased a new stake in Maxim Integrated Products in the third quarter worth about $148,000. Nisa Investment Advisors LLC lifted its holdings in Maxim Integrated Products by 5.2% in the third quarter. Nisa Investment Advisors LLC now owns 138,575 shares of the semiconductor company’s stock worth $7,814,000 after buying an additional 6,790 shares during the period. Finally, First American Bank purchased a new stake in Maxim Integrated Products in the third quarter worth about $3,900,000. Institutional investors and hedge funds own 94.22% of the company’s stock.

Shares of MXIM opened at $54.72 on Monday. The company has a market cap of $14.96 billion, a P/E ratio of 20.19, a PEG ratio of 1.91 and a beta of 1.35. The company has a quick ratio of 5.85, a current ratio of 6.54 and a debt-to-equity ratio of 0.57. Maxim Integrated Products Inc. has a twelve month low of $46.64 and a twelve month high of $64.40.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $576.91 million for the quarter, compared to the consensus estimate of $590.50 million. Maxim Integrated Products had a net margin of 28.72% and a return on equity of 42.09%. On average, sell-side analysts anticipate that Maxim Integrated Products Inc. will post 2.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, February 27th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 67.90%.

In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 25,000 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $56.58, for a total value of $1,414,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sumeet Gagneja sold 517 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $56.72, for a total transaction of $29,324.24. The disclosure for this sale can be found here. Insiders have sold 69,445 shares of company stock valued at $3,877,229 in the last three months. 0.85% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the stock. Deutsche Bank lowered their target price on shares of Maxim Integrated Products from $63.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Thursday, January 3rd. Barclays lowered their target price on shares of Maxim Integrated Products from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, October 23rd. Maxim Group reiterated a “sell” rating on shares of Maxim Integrated Products in a report on Friday. Finally, Citigroup lowered their target price on shares of Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $60.20.

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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.