BlueCrest Capital 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,344 shares of the semiconductor company’s stock, valued at approximately $2,126,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Maxim Integrated Products by 13.4% during the 2nd quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after purchasing an additional 2,358,743 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 last quarter. Wells Fargo & Company MN lifted its holdings in shares of 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 last quarter. State Street Corp lifted its holdings in shares of Maxim Integrated Products by 0.5% during the 2nd quarter. State Street Corp now owns 6,384,084 shares of the semiconductor company’s stock valued at $286,644,000 after purchasing an additional 28,762 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Maxim Integrated Products by 29.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,770,400 shares of the semiconductor company’s stock valued at $169,291,000 after purchasing an additional 866,278 shares during the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 48.92 on Wednesday. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 24.71 and a beta of 1.05. The company has a 50-day moving average price of $46.79 and a 200-day moving average price of $45.99.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the previous year, the company earned $0.49 earnings per share. Maxim Integrated Products’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.

Maxim Integrated Products announced that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost 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 is presently 72.36%.

Several brokerages have recently commented on MXIM. B. Riley reiterated a “neutral” rating and set a $47.00 price objective on shares of Maxim Integrated Products in a report on Tuesday, September 12th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Maxim Integrated Products in a report on Friday, June 16th. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “underweight” rating and set a $40.00 price objective on shares of Maxim Integrated Products in a report on Wednesday, September 20th. Finally, Maxim Group began coverage on Maxim Integrated Products in a report on Friday, June 16th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Maxim Integrated Products has a consensus rating of “Hold” and an average target price of $47.29.

In other news, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $47.50, for a total value of $166,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tunc Doluca sold 12,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.60, for a total transaction of $547,200.00. The disclosure for this sale can be found here. Insiders sold 136,443 shares of company stock valued at $6,266,251 over the last ninety days. Corporate insiders own 1.11% of the company’s stock.

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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.

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

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