IBM Retirement Fund purchased a new position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,202 shares of the semiconductor company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after buying an additional 343 shares during the period. Highstreet Asset Management Inc. purchased a new position in shares of Maxim Integrated Products in the second quarter worth $115,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Maxim Integrated Products in the third quarter worth $128,000. Acrospire Investment Management LLC increased its stake in shares of Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after buying an additional 1,600 shares during the period. Finally, Duncker Streett & Co. Inc. increased its stake in shares of Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares during the period. 90.94% of the stock is currently owned by institutional investors.

MXIM has been the topic of several recent analyst reports. Loop Capital reiterated a “buy” rating and issued a $57.00 price target (up previously from $53.00) on shares of Maxim Integrated Products in a report on Friday, October 20th. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday. Drexel Hamilton lifted their price target on shares of Maxim Integrated Products from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 20th. BidaskClub cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Maxim Group lifted their price target on shares of Maxim Integrated Products to $60.00 and gave the company a “buy” rating in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.14.

Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded down $0.44 on Thursday, hitting $53.22. The stock had a trading volume of 1,951,700 shares, compared to its average volume of 2,084,807. The company has a current ratio of 14.14, a quick ratio of 13.09 and a debt-to-equity ratio of 0.68. The stock has a market cap of $15,104.57, a price-to-earnings ratio of 23.85, a PEG ratio of 2.11 and a beta of 1.11. Maxim Integrated Products, Inc. has a 12-month low of $37.32 and a 12-month high of $55.43.

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

Maxim Integrated Products declared that its Board of Directors has authorized a share buyback program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, November 29th. Maxim Integrated Products’s dividend payout ratio is presently 70.24%.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 14,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $55.00, for a total value of $770,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $51.71, for a total value of $1,292,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,913 shares of company stock valued at $11,671,910. 1.11% of the stock is owned by insiders.

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Maxim Integrated Products 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.

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

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