Maxim Integrated Products, Inc. (MXIM) Shares Sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board cut its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 15.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,656 shares of the semiconductor company’s stock after selling 47,498 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of Maxim Integrated Products worth $12,245,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MXIM. Dimensional Fund Advisors LP increased its position in shares of Maxim Integrated Products by 15.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 716,933 shares of the semiconductor company’s stock valued at $32,232,000 after purchasing an additional 96,467 shares during the last quarter. Capstone Asset Management Co. grew its stake in shares of Maxim Integrated Products by 4.9% during the 2nd quarter. Capstone Asset Management Co. now owns 7,255 shares of the semiconductor company’s stock worth $326,000 after acquiring an additional 340 shares during the period. Bank of Montreal Can grew its stake in shares of Maxim Integrated Products by 28.6% during the 2nd quarter. Bank of Montreal Can now owns 260,180 shares of the semiconductor company’s stock worth $11,683,000 after acquiring an additional 57,897 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Maxim Integrated Products by 2.1% during the 2nd 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 during the period. Finally, NN Investment Partners Holdings N.V. grew its stake in shares of Maxim Integrated Products by 1,075.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 25,783 shares of the semiconductor company’s stock worth $1,158,000 after acquiring an additional 23,589 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

In other Maxim Integrated Products news, Director Robert Edward Grady sold 30,849 shares of Maxim Integrated Products stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $45.04, for a total value of $1,389,438.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tunc Doluca sold 21,000 shares of Maxim Integrated Products stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $46.88, for a total value of $984,480.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,913 shares of company stock worth $11,671,910. 1.11% of the stock is currently owned by insiders.

Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at $53.66 on Wednesday. The firm has a market capitalization of $15,048.27, a PE ratio of 23.76, a P/E/G ratio of 2.11 and a beta of 1.11. The company has a current ratio of 14.14, a quick ratio of 13.09 and a debt-to-equity ratio of 0.68. Maxim Integrated Products, Inc. has a 1-year low of $37.32 and a 1-year high of $55.43.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $576.00 million for the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. Maxim Integrated Products’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. research analysts anticipate that Maxim Integrated Products, Inc. will post 2.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.68%. Maxim Integrated Products’s dividend payout ratio is 70.24%.

Maxim Integrated Products declared that its Board of Directors has approved a share buyback program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Maxim Integrated Products from $44.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. BMO Capital Markets raised their target price on Maxim Integrated Products from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. B. Riley restated a “hold” rating and issued a $47.00 target price on shares of Maxim Integrated Products in a research note on Monday, October 16th. Barclays PLC raised their target price on Maxim Integrated Products from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Loop Capital restated a “buy” rating and issued a $53.00 target price on shares of Maxim Integrated Products in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.14.

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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