Veritable L.P. decreased its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,212 shares of the semiconductor company’s stock after selling 279 shares during the period. Veritable L.P.’s holdings in Maxim Integrated Products were worth $459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MXIM. Proficio Capital Partners LLC lifted 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 valued at $106,000 after buying an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Maxim Integrated Products by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 343 shares during the last quarter. Highstreet Asset Management Inc. acquired a new position in shares of Maxim Integrated Products during the second quarter valued at about $115,000. Acrospire Investment Management LLC grew its holdings in shares of Maxim Integrated Products by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its holdings in shares of Maxim Integrated Products by 21.1% during the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock valued at $129,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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In other Maxim Integrated Products news, VP Christopher J. Neil sold 3,500 shares of Maxim Integrated Products stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $45.69, for a total value of $159,915.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Wright sold 560 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Insiders have sold 121,443 shares of company stock valued at $5,541,266 over the last three months. 1.30% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. BidaskClub raised shares of Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Maxim Integrated Products in a research report on Friday, June 16th. Maxim Group started coverage on Maxim Integrated Products in a research note on Friday, June 16th. They set a “market perform” rating for the company. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Maxim Integrated Products has an average rating of “Hold” and a consensus target price of $47.80.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 47.92 on Tuesday. The stock has a market capitalization of $13.52 billion, a P/E ratio of 24.20 and a beta of 1.05. Maxim Integrated Products, Inc. has a one year low of $37.25 and a one year high of $49.70. The company has a 50 day moving average of $46.13 and a 200-day moving average of $45.85.

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, beating analysts’ consensus estimates 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 $602.00 million for the quarter, compared to the consensus estimate of $609.52 million. During the same quarter last year, the firm posted $0.49 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts predict that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.01%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 29th. Maxim Integrated Products’s payout ratio is presently 72.36%.

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

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.

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

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