Teacher Retirement System of Texas increased its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 20.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 46,627 shares of the semiconductor company’s stock after buying an additional 8,036 shares during the period. Teacher Retirement System of Texas’ holdings in Maxim Integrated Products were worth $2,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its position in shares of Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after buying an additional 764 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position in shares of Maxim Integrated Products by 57.8% in the first quarter. Duncker Streett & Co. Inc. now owns 2,374 shares of the semiconductor company’s stock worth $107,000 after buying an additional 870 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,344 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock worth $139,000 after buying an additional 642 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Maxim Integrated Products by 68.5% in the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock worth $140,000 after buying an additional 1,266 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 43.99 on Friday. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 22.22 and a beta of 1.04. The company has a 50 day moving average price of $45.48 and a 200-day moving average price of $45.55.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $602 million during the quarter, compared to analysts’ expectations of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. Maxim Integrated Products’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. On average, analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products announced that its board has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 3.27%. Maxim Integrated Products’s dividend payout ratio is currently 66.33%.

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A number of brokerages recently commented on MXIM. Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a research report on Friday, April 21st. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, June 9th. Citigroup Inc. restated a “neutral” rating and issued a $44.00 price target (up previously from $41.00) on shares of Maxim Integrated Products in a research report on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Finally, B. Riley restated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $47.61.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 6,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $49.00, for a total value of $294,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Vivek Jain sold 616 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $46.85, for a total value of $28,859.60. The disclosure for this sale can be found here. Insiders have sold a total of 165,782 shares of company stock valued at $7,741,467 over the last 90 days. 1.30% of the stock is currently owned by company 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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