Russell Investments Group Ltd. reduced its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 40.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,878 shares of the semiconductor company’s stock after selling 41,639 shares during the period. Russell Investments Group Ltd.’s holdings in Maxim Integrated Products were worth $2,736,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of MXIM. California Public Employees Retirement System boosted its stake in shares of Maxim Integrated Products by 2.0% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $30,730,000 after buying an additional 13,300 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Maxim Integrated Products by 247.1% in the first quarter. Martingale Asset Management L P now owns 438,194 shares of the semiconductor company’s stock valued at $19,702,000 after buying an additional 311,939 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Maxim Integrated Products by 7.7% in the first quarter. United Services Automobile Association now owns 1,222,229 shares of the semiconductor company’s stock valued at $54,951,000 after buying an additional 87,250 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Maxim Integrated Products by 4.3% in the first quarter. Pacer Advisors Inc. now owns 8,419 shares of the semiconductor company’s stock valued at $379,000 after buying an additional 344 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in shares of Maxim Integrated Products by 5.8% in the first quarter. Nomura Holdings Inc. now owns 7,119 shares of the semiconductor company’s stock valued at $320,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) traded up 1.89% on Thursday, reaching $46.42. The company had a trading volume of 1,069,731 shares. The company has a market capitalization of $13.09 billion, a P/E ratio of 23.44 and a beta of 1.04. The company has a 50 day moving average of $45.44 and a 200-day moving average of $45.54. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The company 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 28.26% and a net margin of 24.90%. Maxim Integrated Products’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. Analysts predict that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders 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 yield of 3.16%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 29th. Maxim Integrated Products’s payout ratio is 66.33%.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/russell-investments-group-ltd-lowers-stake-in-maxim-integrated-products-inc-mxim/1534552.html.

MXIM has been the subject of several research reports. Loop Capital reiterated a “buy” rating and issued a $43.00 target price on shares of Maxim Integrated Products in a report on Tuesday, August 22nd. Zacks Investment Research cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Stifel Nicolaus restated a “buy” rating and set a $54.00 price objective (up from $52.00) on shares of Maxim Integrated Products in a research note on Friday, May 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.17.

In other news, Director Robert Edward Grady sold 30,849 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $45.04, for a total value of $1,389,438.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction dated 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. Insiders have sold a total of 145,029 shares of company stock valued at $6,637,899 over the last ninety days. 1.30% of the stock is owned by company 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.

Want to see what other hedge funds are holding MXIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maxim Integrated Products, Inc. (NASDAQ:MXIM).

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

Receive News & Ratings for Maxim Integrated Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.