Cullinan Associates Inc. reduced its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214,501 shares of the semiconductor company’s stock after selling 4,800 shares during the period. Cullinan Associates Inc. owned 0.08% of Maxim Integrated Products worth $9,631,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. raised its position in Maxim Integrated Products by 1,075.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 25,783 shares of the semiconductor company’s stock worth $1,158,000 after buying an additional 23,589 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Maxim Integrated Products by 2.1% in the second quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock worth $398,000 after buying an additional 181 shares during the last quarter. Bank of Montreal Can raised its position in Maxim Integrated Products by 28.6% in the second quarter. Bank of Montreal Can now owns 260,180 shares of the semiconductor company’s stock worth $11,683,000 after buying an additional 57,897 shares during the last quarter. Capstone Asset Management Co. raised its position in Maxim Integrated Products by 4.9% in the second quarter. Capstone Asset Management Co. now owns 7,255 shares of the semiconductor company’s stock worth $326,000 after buying an additional 340 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in Maxim Integrated Products by 1.0% in the second quarter. Xact Kapitalforvaltning AB now owns 30,734 shares of the semiconductor company’s stock worth $1,380,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 44.71 on Monday. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 22.58 and a beta of 1.04. Maxim Integrated Products, Inc. has a 12 month low of $37.25 and a 12 month high of $49.70. The firm has a 50-day moving average price of $45.85 and a 200-day moving average price of $45.35.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $602 million for the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Equities analysts expect that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a $0.36 dividend. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is 66.33%.

Maxim Integrated Products announced that its board has approved a stock buyback program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts have recently commented on the company. BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. B. Riley restated a “neutral” rating and set a $47.00 target price on shares of Maxim Integrated Products in a research report on Saturday, July 22nd. Morgan Stanley raised their target price on Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, July 17th. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Maxim Integrated Products presently has an average rating of “Hold” and a consensus target price of $47.61.

In related news, VP Vivek Jain sold 616 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $46.85, for a total transaction of $28,859.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tunc Doluca sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $49.00, for a total transaction of $294,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,548 shares of company stock worth $7,870,211. 1.30% of the stock is currently owned by insiders.

Maxim Integrated Products Company Profile

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 caters to automotive, communications and data center, computing, consumer and industrial markets.

Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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