World Asset Management Inc reduced its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,933 shares of the semiconductor company’s stock after selling 294 shares during the period. World Asset Management Inc’s holdings in Maxim Integrated Products were worth $626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP raised its position in shares of Maxim Integrated Products by 115,956.1% in the first quarter. Korea Investment CORP now owns 388,788 shares of the semiconductor company’s stock valued at $17,480,000 after buying an additional 388,453 shares during the period. California Public Employees Retirement System raised its position in shares of Maxim Integrated Products by 2.0% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $30,730,000 after buying an additional 13,300 shares during the period. Affinity Wealth Management acquired a new position in shares of Maxim Integrated Products during the first quarter valued at about $267,000. Martingale Asset Management L P raised its position in shares of Maxim Integrated Products by 247.1% in the first quarter. Martingale Asset Management L P now owns 438,194 shares of the semiconductor company’s stock valued at $19,702,000 after buying an additional 311,939 shares during the period. Finally, United Services Automobile Association raised its position in shares of Maxim Integrated Products by 7.7% in the first quarter. United Services Automobile Association now owns 1,222,229 shares of the semiconductor company’s stock valued at $54,951,000 after buying an additional 87,250 shares during the period. Institutional investors own 89.73% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 45.28 on Wednesday. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 22.87 and a beta of 1.04. The stock’s 50 day moving average is $45.69 and its 200-day moving average is $45.35. 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 quarterly earnings data 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 28.45%. The business had revenue of $602 million for the quarter, compared to analyst estimates of $609.52 million. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be paid a dividend of $0.36 per share. 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 yield of 3.18%. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 66.33%.

Maxim Integrated Products declared that its board has approved a share repurchase 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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Several brokerages have issued reports on MXIM. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday, June 9th. Stifel Nicolaus restated a “buy” rating and set a $54.00 target price (up previously from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. B. Riley restated a “neutral” rating and set a $44.00 target price on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, Morgan Stanley boosted their target price on Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Maxim Integrated Products presently has a consensus rating of “Hold” and an average target price of $47.61.

In related news, CFO Bruce E. Kiddoo sold 10,000 shares of Maxim Integrated Products stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.00, for a total transaction of $470,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tunc Doluca sold 12,000 shares of Maxim Integrated Products stock in a transaction on 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. Insiders have sold a total of 167,548 shares of company stock worth $7,870,211 over the last quarter. 1.30% of the stock is owned by company insiders.

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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