Retirement Systems of Alabama decreased its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 470,000 shares of the semiconductor company’s stock after selling 55,000 shares during the period. Retirement Systems of Alabama owned about 0.17% of Maxim Integrated Products worth $22,424,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Maxim Integrated Products by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 343 shares during the last quarter. Highstreet Asset Management Inc. bought a new stake in Maxim Integrated Products during the second quarter valued at $115,000. Benjamin F. Edwards & Company Inc. bought a new stake in Maxim Integrated Products during the third quarter valued at $128,000. Acrospire Investment Management LLC increased its stake in Maxim Integrated Products by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its position in shares of Maxim Integrated Products by 21.1% during the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) opened at $53.60 on Tuesday. Maxim Integrated Products, Inc. has a 1-year low of $37.32 and a 1-year high of $55.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 14.14 and a quick ratio of 13.09. The firm has a market cap of $15,070.79, a PE ratio of 23.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $576.80 million. During the same period in the prior year, the company earned $0.48 EPS. Maxim Integrated Products’s revenue was up 2.6% on a year-over-year basis. equities research analysts anticipate that Maxim Integrated Products, Inc. will post 2.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Wednesday, November 29th. Maxim Integrated Products’s payout ratio is 70.24%.

Maxim Integrated Products announced that its board has initiated a stock buyback program 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 programs are often an indication that the company’s management believes its shares are undervalued.

In other Maxim Integrated Products news, VP Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $51.71, for a total value of $1,292,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $46.76, for a total transaction of $163,660.00. The disclosure for this sale can be found here. Insiders sold a total of 242,447 shares of company stock valued at $12,198,614 over the last three months. 1.11% of the stock is owned by corporate insiders.

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Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup Inc. upped their price target on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. BMO Capital Markets upped their price target on shares of Maxim Integrated Products from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Wells Fargo & Company upped their price target on shares of Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Stifel Nicolaus upped their price target on shares of Maxim Integrated Products from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.14.

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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