Payden & Rygel boosted its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 442,700 shares of the semiconductor company’s stock after purchasing an additional 14,100 shares during the quarter. Maxim Integrated Products comprises about 1.7% of Payden & Rygel’s holdings, making the stock its 14th biggest position. Payden & Rygel owned 0.16% of Maxim Integrated Products worth $19,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Federated Investors Inc. PA grew its holdings in Maxim Integrated Products by 1,536.5% in the second quarter. Federated Investors Inc. PA now owns 327,522 shares of the semiconductor company’s stock worth $14,706,000 after purchasing an additional 307,509 shares during the period. Principal Financial Group Inc. grew its holdings in Maxim Integrated Products by 483.2% in the second quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock worth $100,403,000 after purchasing an additional 1,852,730 shares during the period. California Public Employees Retirement System grew its holdings in 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 worth $30,730,000 after purchasing an additional 13,300 shares during the period. Martingale Asset Management L P grew its holdings in 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 worth $19,702,000 after purchasing an additional 311,939 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Maxim Integrated Products by 4.3% in the first quarter. Pacer Advisors Inc. now owns 8,419 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 90.14% of the company’s stock.

MXIM has been the subject of a number of research reports. Loop Capital restated a “buy” rating and issued a $43.00 price target on shares of Maxim Integrated Products in a report on Tuesday, August 22nd. BidaskClub cut shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, June 9th. Drexel Hamilton restated a “buy” rating and issued a $52.00 price target on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Finally, Morgan Stanley raised their price target on shares of Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.06.

Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded up 0.416% on Thursday, hitting $47.035. 246,231 shares of the company were exchanged. 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 capitalization of $13.27 billion, a P/E ratio of 23.755 and a beta of 1.04. The company has a 50 day moving average price of $45.33 and a 200-day moving average price of $45.63.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $602.00 million for the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, equities analysts expect that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.

Maxim Integrated Products announced that its Board of Directors has approved a stock 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. Maxim Integrated Products’s dividend payout ratio is currently 72.36%.

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In other news, Director Robert Edward Grady sold 30,849 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $45.04, for a total value of $1,389,438.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Ann Wright sold 560 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Insiders sold a total of 133,443 shares of company stock worth $6,077,906 over the last ninety days. Insiders own 1.30% of the company’s stock.

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.

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

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