Dodge & Cox lessened its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,519,734 shares of the semiconductor company’s stock after selling 296,139 shares during the period. Dodge & Cox owned approximately 6.55% of Maxim Integrated Products worth $831,536,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Fiera Capital Corp boosted its holdings in shares of Maxim Integrated Products by 0.7% during the second quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock worth $700,000 after acquiring an additional 107 shares during the period. Gateway Investment Advisers LLC raised its position in shares of Maxim Integrated Products by 2.1% in the second quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock valued at $398,000 after buying an additional 181 shares in the last quarter. Weaver C. Barksdale & Associates Inc. raised its position in shares of Maxim Integrated Products by 0.8% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock valued at $1,421,000 after buying an additional 240 shares in the last quarter. Foresters Investment Management Company Inc. raised its position in shares of Maxim Integrated Products by 4.5% in the first quarter. Foresters Investment Management Company Inc. now owns 7,000 shares of the semiconductor company’s stock valued at $315,000 after buying an additional 300 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in shares of Maxim Integrated Products by 1.0% in the second quarter. Xact Kapitalforvaltning AB now owns 30,734 shares of the semiconductor company’s stock valued at $1,380,000 after buying an additional 315 shares in the last quarter. Institutional investors own 89.38% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) traded up 0.93% on Friday, reaching $46.86. 291,470 shares of the company’s stock traded hands. Maxim Integrated Products, Inc. has a one year low of $37.25 and a one year high of $49.70. The company’s 50-day moving average price is $45.58 and its 200 day moving average price is $45.73. The firm has a market cap of $13.22 billion, a P/E ratio of 23.67 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $609.52 million. During the same period last year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.10%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio (DPR) is 72.36%.

Maxim Integrated Products announced that its board has authorized a stock buyback plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, Director Mary Ann Wright sold 560 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $46.29, for a total transaction of $25,922.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Edward Grady sold 30,849 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $45.04, for a total transaction of $1,389,438.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,443 shares of company stock worth $6,077,906. Corporate insiders own 1.30% of the company’s stock.

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A number of equities research analysts have recently weighed in on the stock. 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 research report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 price target (up from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. B. Riley reiterated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub upgraded shares of Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, Morgan Stanley lifted their price target on shares of 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, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.80.

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.

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

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