Harbour Capital Advisors LLC boosted its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 4,390.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,083 shares of the semiconductor company’s stock after buying an additional 18,658 shares during the period. Harbour Capital Advisors LLC’s holdings in Maxim Integrated Products were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its stake in shares of Maxim Integrated Products by 51.4% in 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 period. Duncker Streett & Co. Inc. increased its stake in shares of Maxim Integrated Products by 57.8% in the first quarter. Duncker Streett & Co. Inc. now owns 2,374 shares of the semiconductor company’s stock worth $107,000 after buying an additional 870 shares during the period. TrimTabs Asset Management LLC increased its stake in shares of Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,344 shares during the period. Toronto Dominion Bank increased its stake in shares of Maxim Integrated Products by 26.1% in 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 period. Finally, Tompkins Financial Corp increased its stake in shares of Maxim Integrated Products by 31.3% in the first quarter. Tompkins Financial Corp now owns 3,962 shares of the semiconductor company’s stock worth $146,000 after buying an additional 944 shares during the period. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

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 the consensus estimate of $0.62 by $0.01. The company had revenue of $602 million for 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 28.45%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS.

Maxim Integrated Products announced that its board has approved a stock repurchase program on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding 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 generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be given a $0.36 dividend. The ex-dividend date is Tuesday, August 29th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.22%. Maxim Integrated Products’s payout ratio is currently 66.33%.

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A number of brokerages recently issued reports on MXIM. B. Riley reissued a “neutral” rating and set a $44.00 price target on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Royal Bank Of Canada reissued a “sector perform” rating and set a $47.00 price target (up from $45.00) on shares of Maxim Integrated Products in a report on Monday, April 24th. Finally, Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Maxim Integrated Products in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus price target of $47.61.

In related news, VP Vivek Jain sold 47,700 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $47.91, for a total value of $2,285,307.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $46.33, for a total transaction of $1,158,250.00. The disclosure for this sale can be found here. Insiders sold a total of 167,548 shares of company stock worth $7,870,211 over the last quarter. Insiders own 1.30% of the company’s stock.

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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