First Trust Advisors LP increased its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,827,603 shares of the semiconductor company’s stock after buying an additional 49,094 shares during the period. First Trust Advisors LP’s holdings in Maxim Integrated Products were worth $82,059,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. 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 worth $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 worth $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 worth $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 worth $139,000 after buying an additional 642 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in 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. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 43.90 on Friday. Maxim Integrated Products, Inc. has a 12-month low of $37.25 and a 12-month high of $49.70. The stock’s 50 day moving average price is $45.55 and its 200 day moving average price is $45.46. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 22.17 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $602 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 earnings per share. Analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.28%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 66.33%.

Maxim Integrated Products announced that its board has approved a share 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 buy up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of equities research analysts recently issued reports on MXIM shares. Loop Capital reissued a “buy” rating and issued a $51.00 price target (up previously from $50.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 price target (up previously from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target (up previously from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Drexel Hamilton reissued a “buy” rating and issued a $52.00 price target (up previously from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Finally, Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.61.

In related news, VP Vivek Jain sold 47,700 shares of the 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 document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the stock in a transaction on Tuesday, August 1st. The shares were 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. In the last ninety days, insiders have sold 167,548 shares of company stock worth $7,870,211. Corporate 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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