ProShare Advisors LLC Has $4.58 Million Stake in Maxim Integrated Products, Inc. (MXIM)

ProShare Advisors LLC grew its stake in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 23.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,989 shares of the semiconductor company’s stock after purchasing an additional 19,514 shares during the quarter. ProShare Advisors LLC’s holdings in Maxim Integrated Products were worth $4,579,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its stake in shares of Maxim Integrated Products by 51.4% during the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 764 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 343 shares during the period. Highstreet Asset Management Inc. purchased a new stake in shares of Maxim Integrated Products during the second quarter valued at approximately $115,000. Duncker Streett & Co. Inc. boosted its stake 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 purchasing an additional 500 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Maxim Integrated Products by 68.5% during the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 1,266 shares during the period. 89.38% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $47.00 price objective on shares of Maxim Integrated Products in a research note on Tuesday, September 12th. Morgan Stanley reissued an “underweight” rating and set a $40.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. BidaskClub raised Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.80.

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Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 46.43 on Friday. The firm’s 50-day moving average price is $45.58 and its 200 day moving average price is $45.73. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 23.45 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.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the prior year, the business earned $0.49 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current year.

Maxim Integrated Products announced that its Board of Directors has authorized a stock buyback program on Thursday, July 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.10%. 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 dividend payout ratio is currently 72.36%.

In other Maxim Integrated Products news, Director Mary Ann Wright sold 560 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tunc Doluca sold 12,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $44.72, for a total value of $536,640.00. The disclosure for this sale can be found here. Insiders sold a total of 133,443 shares of company stock valued at $6,077,906 over the last quarter. Company insiders own 1.30% of the company’s stock.

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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