Maxim Integrated Products, Inc. (MXIM) Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP grew its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 107.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,214 shares of the semiconductor company’s stock after purchasing an additional 5,814 shares during the quarter. Engineers Gate Manager LP’s holdings in Maxim Integrated Products were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MXIM. Russell Investments Group Ltd. increased its position in shares of Maxim Integrated Products by 28.2% during the 1st quarter. Russell Investments Group Ltd. now owns 102,517 shares of the semiconductor company’s stock valued at $4,612,000 after purchasing an additional 22,534 shares during the last quarter. World Asset Management Inc increased its position in shares of Maxim Integrated Products by 23.2% during the 1st quarter. World Asset Management Inc now owns 14,227 shares of the semiconductor company’s stock valued at $640,000 after purchasing an additional 2,678 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Maxim Integrated Products during the 1st quarter valued at $2,958,000. TD Asset Management Inc. increased its position in shares of Maxim Integrated Products by 5.2% during the 1st quarter. TD Asset Management Inc. now owns 26,456 shares of the semiconductor company’s stock valued at $1,189,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Maxim Integrated Products by 26.1% during the 1st quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 642 shares during the last quarter. 89.38% of the stock is owned by hedge funds and other institutional investors.

Maxim Integrated Products, Inc. (MXIM) opened at 47.00 on Monday. The firm has a 50-day moving average price of $45.48 and a 200 day moving average price of $45.67. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70. The company has a market cap of $13.26 billion, a P/E ratio of 23.74 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 company had revenue of $602.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts expect that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

Maxim Integrated Products announced that its board has initiated a stock buyback plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in 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 a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was 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 is 72.36%.

Several equities research analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $47.00 target price on shares of Maxim Integrated Products in a research report on Tuesday, September 12th. Maxim Group reaffirmed a “buy” rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 target price on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Loop Capital reaffirmed a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a research report on Thursday, August 31st. Finally, BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $48.06.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 21,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $46.88, for a total transaction of $984,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Edward Grady sold 30,849 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $45.04, for a total value of $1,389,438.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,443 shares of company stock valued at $6,077,906. 1.30% of the stock is owned by company insiders.

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Maxim Integrated Products 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.

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

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