Trade Report: Today, Maxim Integrated Products Inc. (MXIM) Position Lowered by 1ST Source Bank

Today, Maxim Integrated Products Inc. (MXIM) Position Lowered by 1ST Source Bank

1ST Source Bank lowered its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 6,583 shares of the company’s stock after selling 400 shares during the period. 1ST Source Bank’s holdings in Maxim Integrated Products were worth $235,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Maxim Integrated Products by 5.2% in the first quarter. Geode Capital Management LLC now owns 1,830,828 shares of the company’s stock worth $67,302,000 after buying an additional 90,674 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $184,000. Goldman Sachs Group Inc. increased its stake in shares of Maxim Integrated Products by 16.9% in the first quarter. Goldman Sachs Group Inc. now owns 8,587,243 shares of the company’s stock worth $315,838,000 after buying an additional 1,244,517 shares during the last quarter. AXA purchased a new stake in shares of Maxim Integrated Products during the first quarter worth about $232,000. Finally, Pictet Asset Management Ltd. increased its stake in shares of Maxim Integrated Products by 41.8% in the first quarter. Pictet Asset Management Ltd. now owns 639,528 shares of the company’s stock worth $21,654,000 after buying an additional 188,622 shares during the last quarter. 90.27% of the stock is owned by institutional investors.

Maxim Integrated Products Inc. (NASDAQ:MXIM) traded up 1.44% during trading on Tuesday, hitting $38.75. 671,810 shares of the company traded hands. Maxim Integrated Products Inc. has a 52 week low of $30.28 and a 52 week high of $42.37. The stock has a market capitalization of $10.99 billion, a PE ratio of 49.05 and a beta of 1.14. The company’s 50 day moving average is $39.29 and its 200-day moving average is $38.12.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 21st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The company earned $566 million during the quarter, compared to analyst estimates of $575.46 million. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. Analysts predict that Maxim Integrated Products Inc. will post $1.96 earnings per share for the current year.

MXIM has been the subject of a number of research reports. Drexel Hamilton reissued a “buy” rating and set a $42.00 target price on shares of Maxim Integrated Products in a research report on Monday, July 25th. Jefferies Group restated a “buy” rating and set a $42.00 price target (up from $41.00) on shares of Maxim Integrated Products in a research note on Tuesday, July 26th. Barclays PLC upped 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 research note on Wednesday, August 31st. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, BMO Capital Markets cut shares of Maxim Integrated Products from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a research note on Tuesday, July 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.10.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 21,992 shares of Maxim Integrated Products stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $39.76, for a total transaction of $874,401.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Edwin Medlin sold 26,552 shares of Maxim Integrated Products stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $40.07, for a total transaction of $1,063,938.64. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.

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