TD Asset Management Inc. cut its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 41.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,554 shares of the semiconductor company’s stock after selling 10,902 shares during the period. TD Asset Management Inc.’s holdings in Maxim Integrated Products were worth $698,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MXIM. Proficio Capital Partners LLC raised its stake in shares of 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 during the last quarter. TrimTabs Asset Management LLC raised its stake in shares of 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 during the last quarter. Duncker Streett & Co. Inc. raised its stake in shares of Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of 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 during the last quarter. Finally, 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 during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 44.75 on Wednesday. The firm has a market capitalization of $12.62 billion, a P/E ratio of 22.60 and a beta of 1.04. 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 $45.44 and its 200-day moving average price is $45.54.

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 the Zacks’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The firm had revenue of $602 million for the quarter, compared to the consensus estimate of $609.52 million. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Equities analysts forecast that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.

Maxim Integrated Products declared that its board has approved a share buyback 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.22%. 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 66.33%.

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A number of analysts recently issued reports on the company. B. Riley reiterated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a report on Monday, July 17th. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Maxim Integrated Products in a report on Friday, June 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 price target (up previously from $52.00) on shares of Maxim Integrated Products in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, ten have issued 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 $47.17.

In other Maxim Integrated Products news, VP Edwin Medlin sold 30,646 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $46.99, for a total transaction of $1,440,055.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 6,000 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $49.00, for a total transaction of $294,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 145,029 shares of company stock worth $6,637,899 over the last quarter. 1.30% of the stock is currently owned by insiders.

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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