Mckinley Capital Management LLC Delaware purchased a new position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,210 shares of the semiconductor company’s stock, valued at approximately $144,000.

A number of other large investors have also bought and sold shares of MXIM. Proficio Capital Partners LLC grew its position in shares of 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 purchasing an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Maxim Integrated Products by 16.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 343 shares during the period. Highstreet Asset Management Inc. bought a new stake in Maxim Integrated Products during the 2nd quarter valued at approximately $115,000. Acrospire Investment Management LLC raised its stake in Maxim Integrated Products by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares during the period. Finally, Duncker Streett & Co. Inc. lifted its holdings in Maxim Integrated Products by 21.1% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 500 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. Morgan Stanley restated an “underweight” rating and issued a $40.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 20th. B. Riley reiterated a “neutral” rating and set a $47.00 price objective on shares of Maxim Integrated Products in a research report on Tuesday, September 12th. Maxim Group reissued a “buy” rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Drexel Hamilton restated a “buy” rating and set a $52.00 target price on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Finally, Loop Capital restated a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.80.

Maxim Integrated Products, Inc. (MXIM) opened at 47.71 on Monday. The firm’s 50 day moving average price is $45.58 and its 200 day moving average price is $45.73. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 24.10 and a beta of 1.05. 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 earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The company had revenue of $602.00 million for the quarter, compared to the consensus estimate of $609.52 million. During the same period in the previous year, the firm earned $0.49 earnings per share. Maxim Integrated Products’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products declared that its Board of Directors has approved a stock buyback plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were paid a $0.36 dividend. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.02%. Maxim Integrated Products’s dividend payout ratio is 72.36%.

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In related news, Director Mary Ann Wright sold 560 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Vivek Jain sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $45.21, for a total value of $452,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 121,443 shares of company stock valued at $5,541,266. Corporate insiders own 1.30% of the company’s stock.

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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