Conning Inc. Sells 1,433 Shares of Maxim Integrated Products Inc. (MXIM)

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Conning Inc. reduced its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 137,389 shares of the semiconductor company’s stock after selling 1,433 shares during the period. Conning Inc.’s holdings in Maxim Integrated Products were worth $7,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Personal Financial Services lifted its holdings in shares of Maxim Integrated Products by 76.9% during the first quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 297 shares in the last quarter. CWM LLC lifted its holdings in shares of Maxim Integrated Products by 38.5% during the first quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 230 shares in the last quarter. Strs Ohio lifted its holdings in shares of Maxim Integrated Products by 4.1% during the first quarter. Strs Ohio now owns 44,458 shares of the semiconductor company’s stock valued at $2,363,000 after purchasing an additional 1,744 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Maxim Integrated Products by 0.8% during the first quarter. Gulf International Bank UK Ltd now owns 61,584 shares of the semiconductor company’s stock valued at $3,274,000 after purchasing an additional 516 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Maxim Integrated Products by 11.9% during the first quarter. IFM Investors Pty Ltd now owns 18,484 shares of the semiconductor company’s stock valued at $983,000 after purchasing an additional 1,969 shares in the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

MXIM stock traded down $0.66 during trading on Monday, reaching $59.11. The stock had a trading volume of 1,378,500 shares, compared to its average volume of 2,042,299. Maxim Integrated Products Inc. has a 52 week low of $46.64 and a 52 week high of $63.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.85 and a current ratio of 6.54. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.10 and a beta of 1.31.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The company had revenue of $576.91 million during the quarter, compared to analysts’ expectations of $590.50 million. Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. Equities analysts predict that Maxim Integrated Products Inc. will post 2.44 earnings per share for the current year.

MXIM has been the topic of a number of research analyst reports. Evercore ISI lowered their price target on Maxim Integrated Products from $60.00 to $55.00 in a report on Monday, January 14th. BidaskClub downgraded Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Cowen initiated coverage on Maxim Integrated Products in a report on Friday, February 22nd. They issued a “market perform” rating and a $56.00 target price on the stock. Zacks Investment Research raised Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Maxim Group reissued a “hold” rating on shares of Maxim Integrated Products in a report on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $59.67.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 14,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total value of $840,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce E. Kiddoo sold 8,062 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $55.60, for a total value of $448,247.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,316 shares of company stock valued at $4,235,474. Company insiders own 0.85% of the company’s stock.

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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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