BT Investment Management Ltd bought a new position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 252,478 shares of the semiconductor company’s stock, valued at approximately $11,336,000. BT Investment Management Ltd owned about 0.09% of Maxim Integrated Products as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MXIM. Proficio Capital Partners LLC raised its stake in Maxim Integrated Products by 51.4% during 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. Northwestern Mutual Wealth Management Co. raised its stake in Maxim Integrated Products by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Maxim Integrated Products during the second quarter worth $115,000. Duncker Streett & Co. Inc. raised its stake in Maxim Integrated Products by 21.1% during the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Maxim Integrated Products by 26.1% during 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. 90.14% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $45.28, for a total value of $1,132,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tunc Doluca sold 12,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $44.72, for a total transaction of $536,640.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,443 shares of company stock valued at $6,077,906. 1.30% of the stock is owned by company insiders.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded up 0.43% on Friday, hitting $47.00. 3,061,272 shares of the stock were exchanged. The company has a 50-day moving average price of $45.48 and a 200 day moving average price of $45.67. The company has a market cap of $13.26 billion, a PE ratio of 23.74 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.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $602.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Equities analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 72.36%.

Maxim Integrated Products declared that its Board of Directors has initiated 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

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A number of brokerages recently weighed in on MXIM. B. Riley reissued a “neutral” rating and set a $47.00 target price on shares of Maxim Integrated Products in a research note on Tuesday. Maxim Group reissued a “buy” rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Drexel Hamilton reissued a “buy” rating and set a $52.00 target price on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Loop Capital reissued a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a research note on Thursday, August 31st. Finally, BidaskClub downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.06.

Maxim Integrated Products 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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