Arrowstreet Capital Limited Partnership Reduces Holdings in Maxim Integrated Products, Inc. (MXIM)

Arrowstreet Capital Limited Partnership decreased its holdings in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 68.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,341 shares of the semiconductor company’s stock after selling 990,013 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.16% of Maxim Integrated Products worth $20,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Fiera Capital Corp grew its stake in shares of Maxim Integrated Products by 0.7% in the second quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock worth $700,000 after acquiring an additional 107 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Maxim Integrated Products by 2.1% in the second quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock worth $398,000 after acquiring an additional 181 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in shares of Maxim Integrated Products by 5.8% in the second quarter. Ropes Wealth Advisors LLC now owns 4,248 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 234 shares in the last quarter. Weaver C. Barksdale & Associates Inc. grew its stake in shares of Maxim Integrated Products by 0.8% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock worth $1,421,000 after acquiring an additional 240 shares in the last quarter. Finally, Foresters Investment Management Company Inc. grew its stake in shares of Maxim Integrated Products by 4.5% in the first quarter. Foresters Investment Management Company Inc. now owns 7,000 shares of the semiconductor company’s stock worth $315,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company’s stock.

Several research firms have commented on MXIM. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a research note on Tuesday, July 11th. BidaskClub upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Loop Capital restated a “buy” rating and issued a $53.00 price target on shares of Maxim Integrated Products in a research note on Thursday, August 31st. B. Riley restated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a research note on Monday, July 17th. Finally, Raymond James Financial, Inc. restated a “mkt perform” rating on shares of Maxim Integrated Products in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.29.

Maxim Integrated Products, Inc. (NASDAQ MXIM) traded down 0.174% during trading on Wednesday, reaching $48.895. 86,984 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $46.79 and a 200 day moving average price of $45.99. The stock has a market capitalization of $13.79 billion, a P/E ratio of 24.694 and a beta of 1.05. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data 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. The company had revenue of $602.00 million during the quarter, compared to analyst estimates of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Equities research analysts expect 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 stock buyback plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.36 per share. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 72.36%.

In other news, CEO Tunc Doluca sold 12,000 shares of Maxim Integrated Products stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.60, for a total value of $547,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce E. Kiddoo sold 25,000 shares of Maxim Integrated Products stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $45.28, for a total transaction of $1,132,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,443 shares of company stock valued at $6,266,251. 1.11% 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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