Great West Life Assurance Co. Can reduced its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 172,709 shares of the semiconductor company’s stock after selling 8,627 shares during the period. Great West Life Assurance Co. Can’s holdings in Maxim Integrated Products were worth $7,739,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC boosted its stake in Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 764 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in Maxim Integrated Products by 57.8% in the first quarter. Duncker Streett & Co. Inc. now owns 2,374 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 870 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 1,344 shares in the last quarter. Toronto Dominion Bank boosted its stake in Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 642 shares in the last quarter. Finally, Tompkins Financial Corp boosted its stake in Maxim Integrated Products by 31.3% in the first quarter. Tompkins Financial Corp now owns 3,962 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 944 shares in the last quarter. 89.73% of the stock is owned by hedge funds and other institutional investors.

Maxim Integrated Products, Inc. (MXIM) opened at 44.39 on Friday. The stock’s 50 day moving average price is $45.51 and its 200 day moving average price is $45.48. 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 $12.55 billion, a price-to-earnings ratio of 22.42 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a return on equity of 28.45% and a net margin of 24.90%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is presently 66.33%.

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Several research firms recently commented on MXIM. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research raised 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. Citigroup Inc. reaffirmed a “neutral” rating and issued a $44.00 price target (up previously from $41.00) on shares of Maxim Integrated Products in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus target price of $47.61.

In other news, VP Vivek Jain sold 47,700 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $47.91, for a total transaction of $2,285,307.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.67, for a total value of $159,845.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,548 shares of company stock valued at $7,870,211. 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.

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

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