WBI Investments Inc. increased its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 103.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,864 shares of the semiconductor company’s stock after purchasing an additional 76,255 shares during the quarter. WBI Investments Inc. owned about 0.05% of Maxim Integrated Products worth $6,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Shell Asset Management Co. grew its position in shares of Maxim Integrated Products by 0.3% in the first quarter. Shell Asset Management Co. now owns 18,656 shares of the semiconductor company’s stock valued at $839,000 after purchasing an additional 54 shares in the last quarter. Fiera Capital Corp grew its position in shares of Maxim Integrated Products by 0.7% in the second quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock valued at $700,000 after purchasing an additional 107 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of 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 valued at $398,000 after purchasing an additional 181 shares in the last quarter. Weaver C. Barksdale & Associates Inc. grew its position in shares of Maxim Integrated Products by 0.8% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock valued at $1,421,000 after purchasing an additional 240 shares in the last quarter. Finally, Foresters Investment Management Company Inc. grew its position in shares of Maxim Integrated Products by 4.5% in the first quarter. Foresters Investment Management Company Inc. now owns 7,000 shares of the semiconductor company’s stock valued at $315,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 90.14% of the company’s stock.

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Shares of Maxim Integrated Products, Inc. (NASDAQ MXIM) traded up 0.2939% during midday trading on Tuesday, reaching $46.6567. The company’s stock had a trading volume of 289,246 shares. The company has a market cap of $13.16 billion, a PE ratio of 23.5640 and a beta of 1.04. The company’s 50-day moving average price is $45.23 and its 200-day moving average price is $45.62. Maxim Integrated Products, Inc. has a 12 month low of $37.25 and a 12 month high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $602.00 million during the quarter, compared to analyst estimates of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.10%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 72.36%.

Maxim Integrated Products declared that its Board of Directors has authorized a share buyback plan on Thursday, July 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Robert Edward Grady sold 30,849 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total transaction of $1,389,438.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $44.72, for a total value of $536,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,883 shares of company stock valued at $6,051,983. Company insiders own 1.30% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 price target (up from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. B. Riley reiterated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, Morgan Stanley lifted their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $48.06.

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.

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

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