Today, Bank of New York Mellon Corp decides to keep it stake in Maxim Integrated Products Inc. (MXIM) to the level of $428,165,000

Today, Bank of New York Mellon Corp decides to keep it stake in Maxim Integrated Products Inc. (MXIM) to the level of $428,165,000
Bank of New York Mellon Corp raised its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 35.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,722,906 shares of the company’s stock after buying an additional 2,819,552 shares during the period. Bank of New York Mellon Corp owned about 3.79% of Maxim Integrated Products worth $428,165,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Global X Management Co. LLC raised its stake in shares of Maxim Integrated Products by 87.8% in the second quarter. Global X Management Co. LLC now owns 2,824 shares of the company’s stock valued at $101,000 after buying an additional 1,320 shares during the period. IFP Advisors Inc raised its stake in shares of Maxim Integrated Products by 31.3% in the second quarter. IFP Advisors Inc now owns 2,874 shares of the company’s stock valued at $103,000 after buying an additional 685 shares during the period. Advisor Group Inc. bought a new stake in shares of Maxim Integrated Products during the second quarter valued at about $110,000. Independent Portfolio Consultants Inc. raised its stake in shares of Maxim Integrated Products by 17.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,085 shares of the company’s stock valued at $123,000 after buying an additional 455 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Maxim Integrated Products by 432.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,897 shares of the company’s stock valued at $139,000 after buying an additional 3,165 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

Maxim Integrated Products Inc. (NASDAQ:MXIM) traded up 0.60% during mid-day trading on Friday, hitting $40.20. 1,010,601 shares of the stock traded hands. The firm has a market cap of $11.39 billion, a P/E ratio of 26.64 and a beta of 1.13. The firm’s 50-day moving average is $39.34 and its 200 day moving average is $38.68. Maxim Integrated Products Inc. has a 52-week low of $30.28 and a 52-week high of $42.37.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $561.40 million for the quarter, compared to analysts’ expectations of $560.84 million. Maxim Integrated Products had a net margin of 19.93% and a return on equity of 22.94%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities analysts predict that Maxim Integrated Products Inc. will post $1.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, November 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 87.42%.

Several equities research analysts recently issued reports on the stock. RBC Capital Markets reaffirmed an “outperform” rating and set a $40.00 price target on shares of Maxim Integrated Products in a report on Monday, August 15th. Barclays PLC lifted their price target on shares of Maxim Integrated Products from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 31st. Royal Bank Of Canada lowered shares of Maxim Integrated Products from an “outperform” rating to a “sector perform” rating in a report on Wednesday, September 7th. B. Riley reissued a “neutral” rating and set a $38.50 target price on shares of Maxim Integrated Products in a report on Thursday, October 27th. Finally, Wells Fargo & Co. reissued a “market perform” rating and set a $37.00 target price (up from $30.50) on shares of Maxim Integrated Products in a report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.07.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 20,500 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $40.03, for a total transaction of $820,615.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

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