Renaissance Technologies LLC reduced its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 36.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 854,300 shares of the semiconductor company’s stock after selling 485,900 shares during the period. Renaissance Technologies LLC owned about 0.30% of Maxim Integrated Products worth $38,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MXIM. BlackRock Inc. lifted its stake in shares of Maxim Integrated Products by 13.4% in the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock worth $895,388,000 after acquiring an additional 2,358,743 shares during the period. Bank of New York Mellon Corp increased its position in Maxim Integrated Products by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,593,454 shares of the semiconductor company’s stock valued at $475,645,000 after purchasing an additional 167,748 shares during the period. Wells Fargo & Company MN increased its position in Maxim Integrated Products by 1.0% during the 2nd quarter. Wells Fargo & Company MN now owns 6,521,747 shares of the semiconductor company’s stock valued at $292,827,000 after purchasing an additional 63,877 shares during the period. State Street Corp increased its position in Maxim Integrated Products by 5.2% during the 1st quarter. State Street Corp now owns 6,355,322 shares of the semiconductor company’s stock valued at $285,716,000 after purchasing an additional 314,953 shares during the period. Finally, Northern Trust Corp increased its position in Maxim Integrated Products by 3.3% during the 2nd quarter. Northern Trust Corp now owns 3,414,645 shares of the semiconductor company’s stock valued at $153,318,000 after purchasing an additional 109,353 shares during the period. Institutional investors own 89.39% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) opened at 48.10 on Wednesday. The company has a market cap of $13.57 billion, a P/E ratio of 24.29 and a beta of 1.05. The company’s 50-day moving average price is $46.20 and its 200 day moving average price is $45.87. Maxim Integrated Products, Inc. has a one year low of $37.25 and a one year high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results 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. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $609.52 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.

Maxim Integrated Products announced that its board has approved a share buyback plan on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

The business 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. The ex-dividend date was Tuesday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 2.99%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio is presently 72.36%.

MXIM has been the subject of several analyst reports. Loop Capital restated a “buy” rating and set a $43.00 price target on shares of Maxim Integrated Products in a report on Tuesday, August 22nd. BidaskClub lowered shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Drexel Hamilton reiterated a “buy” rating and set a $52.00 price objective on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Maxim Group reiterated a “buy” rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.80.

In other news, VP Vivek Jain sold 10,000 shares of Maxim Integrated Products stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $45.21, for a total value of $452,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Ann Wright sold 560 shares of Maxim Integrated Products stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The disclosure for this sale can be found here. Insiders sold a total of 121,443 shares of company stock worth $5,541,266 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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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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