First Mercantile Trust Co Lowers stake in Maxim Integrated Products (MXIM)

Maxim Integrated Products (MXIM) : First Mercantile Trust Co reduced its stake in Maxim Integrated Products by 6.15% during the most recent quarter end. The investment management company now holds a total of 14,793 shares of Maxim Integrated Products which is valued at $594,679 after selling 970 shares in Maxim Integrated Products , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Maxim Integrated Products makes up approximately 0.08% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added MXIM to its portfolio by purchasing 25,423 company shares during the most recent quarter which is valued at $1,022,005. Maxim Integrated Products makes up approx 0.13% of Simplex Trading’s portfolio.Independent Portfolio Consultants boosted its stake in MXIM in the latest quarter, The investment management firm added 455 additional shares and now holds a total of 3,085 shares of Maxim Integrated Products which is valued at $122,629. Maxim Integrated Products makes up approx 0.04% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank added MXIM to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $1,352.Eqis Capital Management boosted its stake in MXIM in the latest quarter, The investment management firm added 1,817 additional shares and now holds a total of 11,884 shares of Maxim Integrated Products which is valued at $472,389. Maxim Integrated Products makes up approx 0.03% of Eqis Capital Management’s portfolio.Cullinan Associates Inc reduced its stake in MXIM by selling 12,500 shares or 5.43% in the most recent quarter. The Hedge Fund company now holds 217,800 shares of MXIM which is valued at $8,657,550. Maxim Integrated Products makes up approx 0.75% of Cullinan Associates Inc’s portfolio.

Maxim Integrated Products opened for trading at $40.12 and hit $40.24 on the upside on Friday, eventually ending the session at $40.2, with a gain of 0.32% or 0.13 points. The heightened volatility saw the trading volume jump to 19,65,714 shares. Company has a market cap of $11,397 M.

On the company’s financial health, Maxim Integrated Products reported $0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.42. The company had revenue of $555.00 million for the quarter, compared to analysts expectations of $555.35 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Maxim Integrated Products. Maxim Integrated Products was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Maxim Integrated Products was Downgraded by RBC Capital Mkts to ” Sector Perform” on Sep 7, 2016.

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. The Company serves markets including communications and data center computing and consumer markets. Its communications and data center caters to base stations data storage servers telecommunications and other communications. Its computing caters to desktop computers notebook computers and peripherals. Its consumer products cater to smartphones digital cameras handheld computers home entertainment and appliances.

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