Vanguard Group Inc. boosted its stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,392,190 shares of the company’s stock after buying an additional 1,054,328 shares during the period. Vanguard Group Inc. owned 8.58% of Maxim Integrated Products worth $870,558,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Gulf International Bank UK Ltd boosted its position in Maxim Integrated Products by 5.1% in the second quarter. Gulf International Bank UK Ltd now owns 82,384 shares of the company’s stock worth $2,940,000 after buying an additional 4,000 shares in the last quarter. National Pension Service boosted its position in shares of Maxim Integrated Products by 4.6% in the first quarter. National Pension Service now owns 207,359 shares of the company’s stock valued at $7,627,000 after buying an additional 9,056 shares during the period. Boston Advisors LLC boosted its position in shares of Maxim Integrated Products by 16.3% in the second quarter. Boston Advisors LLC now owns 683,110 shares of the company’s stock valued at $24,380,000 after buying an additional 95,582 shares during the period. NN Investment Partners Holdings N.V. boosted its position in shares of Maxim Integrated Products by 1,822.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 30,641 shares of the company’s stock valued at $1,094,000 after buying an additional 29,047 shares during the period. Finally, Moore Capital Management LP acquired a new position in shares of Maxim Integrated Products during the first quarter valued at about $3,678,000. Institutional investors own 90.28% of the company’s stock.
Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) traded down 0.49% during trading on Monday, reaching $38.81. 133,012 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $40.10 and a 200-day moving average price of $37.65. Maxim Integrated Products Inc. has a 52 week low of $30.28 and a 52 week high of $42.37. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 49.13 and a beta of 1.02.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The business earned $566 million during the quarter, compared to the consensus estimate of $575.46 million. Maxim Integrated Products had a net margin of 10.36% and a return on equity of 22.15%. Analysts predict that Maxim Integrated Products Inc. will post $1.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Tuesday, August 16th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.30. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 169.23%.
MXIM has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating and set a $42.00 target price (up previously from $41.00) on shares of Maxim Integrated Products in a report on Tuesday, July 26th. Pacific Crest reaffirmed an “overweight” rating on shares of Maxim Integrated Products in a report on Thursday, September 15th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Maxim Integrated Products in a report on Monday, August 15th. Bank of America Corp. cut shares of Maxim Integrated Products from a “buy” rating to a “neutral” rating and cut their price objective for the company from $41.00 to $39.00 in a report on Monday, June 27th. Finally, BMO Capital Markets cut shares of Maxim Integrated Products from an “outperform” rating to a “market perform” rating and set a $39.00 price objective for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus price target of $41.10.
In other news, CEO Tunc Doluca sold 10,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $35.53, for a total value of $355,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Watkins sold 60,786 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $41.08, for a total transaction of $2,497,088.88. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.
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’s products include switching regulators, charge pumps, linear regulators, light-emitting diode drivers, power switching, transceivers, level translators, broadband switches, current loop products, real-time clocks, data loggers and microcontrollers.
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