DekaBank Deutsche Girozentrale raised its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 126.5% during the second quarter, Holdings Channel reports. The institutional investor owned 158,041 shares of the semiconductor company’s stock after buying an additional 88,268 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Maxim Integrated Products were worth $7,074,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Maxim Integrated Products by 2.8% in the second quarter. First Trust Advisors LP now owns 1,827,603 shares of the semiconductor company’s stock worth $82,059,000 after buying an additional 49,094 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Maxim Integrated Products by 52.5% in the second quarter. Canada Pension Plan Investment Board now owns 372,202 shares of the semiconductor company’s stock worth $16,712,000 after buying an additional 128,100 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Maxim Integrated Products by 68.5% in the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock worth $140,000 after buying an additional 1,266 shares in the last quarter. Korea Investment CORP raised its stake in shares of Maxim Integrated Products by 14.6% in the second quarter. Korea Investment CORP now owns 445,429 shares of the semiconductor company’s stock worth $20,000,000 after buying an additional 56,641 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Maxim Integrated Products during the second quarter worth $261,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 45.44 on Tuesday. The firm’s 50-day moving average price is $45.50 and its 200-day moving average price is $45.55. 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 $12.85 billion, a PE ratio of 22.95 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $602 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.49 EPS. Equities analysts predict that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio (DPR) is 66.33%.

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

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A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. B. Riley reiterated a “neutral” rating and issued a $47.00 price objective on shares of Maxim Integrated Products in a research report on Saturday, July 22nd. Morgan Stanley lifted their price objective on Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, July 17th. Jefferies Group LLC reiterated a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.61.

In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 10,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.00, for a total transaction of $470,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Tunc Doluca sold 3,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.00, for a total value of $141,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 142,548 shares of company stock worth $6,711,961 in the last ninety days. Insiders own 1.30% of the company’s stock.

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.

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

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