Principal Financial Group Inc. boosted its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 483.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,236,143 shares of the semiconductor company’s stock after buying an additional 1,852,730 shares during the period. Principal Financial Group Inc. owned approximately 0.79% of Maxim Integrated Products worth $100,403,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MXIM. Proficio Capital Partners LLC increased its stake in 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 valued at $106,000 after buying an additional 764 shares in the last quarter. Highstreet Asset Management Inc. purchased a new stake in Maxim Integrated Products during the second quarter valued at about $115,000. TrimTabs Asset Management LLC increased its stake in 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 valued at $128,000 after buying an additional 1,344 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock valued at $129,000 after buying an additional 500 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 642 shares in the last quarter. 90.13% of the stock is owned by institutional investors and hedge funds.

Maxim Integrated Products, Inc. (MXIM) opened at 46.99 on Friday. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70. The firm has a market cap of $13.25 billion, a PE ratio of 23.73 and a beta of 1.04. The stock has a 50 day moving average of $45.38 and a 200-day moving average of $45.57.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 24.90% and a return on equity of 28.26%. Maxim Integrated Products’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Analysts expect that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.

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

The firm 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is presently 72.36%.

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Several analysts recently issued reports on MXIM shares. BidaskClub downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 price objective (up from $52.00) on shares of Maxim Integrated Products in a report on Friday, May 26th. Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, June 9th. Finally, Loop Capital reaffirmed a “buy” rating and set a $43.00 price objective on shares of Maxim Integrated Products in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.06.

In other news, VP Vivek Jain sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $45.21, for a total value of $452,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were 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. In the last three months, insiders sold 145,029 shares of company stock valued at $6,637,899. 1.30% of the stock is currently owned by company insiders.

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 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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