Deschutes Portfolio Strategy LLC maintained its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,233 shares of the semiconductor company’s stock at the end of the second quarter. Deschutes Portfolio Strategy LLC’s holdings in Maxim Integrated Products were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Maxim Integrated Products by 2,247.2% in the first quarter. BlackRock Inc. now owns 17,583,071 shares of the semiconductor company’s stock worth $790,536,000 after buying an additional 16,833,967 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of Maxim Integrated Products by 33.7% in the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock worth $525,738,000 after buying an additional 2,948,722 shares in the last quarter. American Century Companies Inc. increased its position in shares of Maxim Integrated Products by 10.6% in the first quarter. American Century Companies Inc. now owns 12,156,414 shares of the semiconductor company’s stock worth $546,552,000 after buying an additional 1,168,581 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $41,874,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Maxim Integrated Products during the first quarter worth approximately $41,874,000. Institutional investors and hedge funds own 90.13% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) opened at 44.75 on Wednesday. The firm has a 50-day moving average price of $45.44 and a 200 day moving average price of $45.54. 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 cap of $12.62 billion, a price-to-earnings ratio of 22.60 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The firm had revenue of $602 million for the quarter, compared to analysts’ expectations of $609.52 million. During the same period last year, the firm earned $0.49 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts expect that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.22%. Maxim Integrated Products’s dividend payout ratio (DPR) is 66.33%.

Maxim Integrated Products declared that its Board of Directors has initiated a share buyback program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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MXIM has been the topic of several recent analyst reports. Loop Capital restated a “buy” rating and set a $43.00 price objective on shares of Maxim Integrated Products in a report on Tuesday, August 22nd. BidaskClub downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, June 9th. Morgan Stanley upped their price objective on shares of Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Monday, July 17th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Maxim Integrated Products has an average rating of “Hold” and a consensus target price of $47.17.

In other news, CEO Tunc Doluca sold 6,000 shares of Maxim Integrated Products stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $49.00, for a total transaction of $294,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Bruce E. Kiddoo sold 25,000 shares of Maxim Integrated Products stock in a transaction on Monday, August 14th. The shares were sold at an average price of $45.28, for a total value of $1,132,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,029 shares of company stock worth $6,637,899. 1.30% of the stock is owned by insiders.

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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