APG Asset Management N.V. decreased its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 51.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,658 shares of the semiconductor company’s stock after selling 198,300 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Maxim Integrated Products worth $9,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Prudential Financial Inc. increased its holdings in shares of Maxim Integrated Products by 98.5% in the first quarter. Prudential Financial Inc. now owns 49,535 shares of the semiconductor company’s stock worth $2,227,000 after purchasing an additional 24,578 shares during the period. Teachers Advisors LLC increased its holdings in shares of Maxim Integrated Products by 2.9% in the first quarter. Teachers Advisors LLC now owns 456,226 shares of the semiconductor company’s stock worth $20,512,000 after purchasing an additional 12,915 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Maxim Integrated Products by 15.5% in the first quarter. Dimensional Fund Advisors LP now owns 716,933 shares of the semiconductor company’s stock worth $32,232,000 after purchasing an additional 96,467 shares during the period. Morgan Stanley increased its holdings in shares of Maxim Integrated Products by 40.9% in the first quarter. Morgan Stanley now owns 443,583 shares of the semiconductor company’s stock worth $19,944,000 after purchasing an additional 128,844 shares during the period. Finally, HighTower Advisors LLC increased its stake in Maxim Integrated Products by 19.1% in the first quarter. HighTower Advisors LLC now owns 23,588 shares of the semiconductor company’s stock valued at $1,049,000 after acquiring an additional 3,775 shares during the last quarter. 89.40% of the stock is currently owned by institutional investors and hedge funds.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $576.80 million. Maxim Integrated Products had a net margin of 25.48% and a return on equity of 29.55%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, November 29th. Maxim Integrated Products’s payout ratio is 70.24%.

Maxim Integrated Products declared that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, VP Vivek Jain sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $45.21, for a total value of $452,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $45.28, for a total transaction of $1,132,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 244,447 shares of company stock worth $11,998,714. Insiders own 1.11% of the company’s stock.

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A number of research analysts recently commented on MXIM shares. Loop Capital reissued a “buy” rating and issued a $43.00 target price on shares of Maxim Integrated Products in a research note on Tuesday, August 22nd. Maxim Group reissued a “buy” rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Drexel Hamilton reissued a “buy” rating and issued a $52.00 target price on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Credit Suisse Group increased their target price on Maxim Integrated Products from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Finally, Bank of America Corporation increased their target price on Maxim Integrated Products from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.14.

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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