American National Registered Investment Advisor Inc. Continues to Hold Position in Maxim Integrated Products, Inc. (NASDAQ:MXIM)

American National Registered Investment Advisor Inc. held its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,630 shares of the semiconductor company’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in Maxim Integrated Products were worth $1,061,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MXIM. Oregon Public Employees Retirement Fund acquired a new position in shares of Maxim Integrated Products during the second quarter worth $1,827,000. Eqis Capital Management Inc. increased its position in shares of Maxim Integrated Products by 25.3% in the second quarter. Eqis Capital Management Inc. now owns 32,290 shares of the semiconductor company’s stock worth $1,450,000 after buying an additional 6,518 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Maxim Integrated Products by 507.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 45,910 shares of the semiconductor company’s stock worth $2,061,000 after buying an additional 38,355 shares in the last quarter. Meeder Asset Management Inc. increased its position in Maxim Integrated Products by 56.3% in the second quarter. Meeder Asset Management Inc. now owns 25,572 shares of the semiconductor company’s stock worth $1,148,000 after buying an additional 9,212 shares in the last quarter. Finally, Hallmark Capital Management Inc. purchased a new position in Maxim Integrated Products during the second quarter worth approximately $1,460,000. Institutional investors own 89.73% of the company’s stock.

Maxim Integrated Products, Inc. (MXIM) opened at 44.39 on Friday. Maxim Integrated Products, Inc. has a one year low of $37.25 and a one year high of $49.70. The firm’s 50-day moving average price is $45.51 and its 200-day moving average price is $45.48. The company has a market cap of $12.55 billion, a PE ratio of 22.42 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.45% and a net margin of 24.90%. The company had revenue of $602 million for the quarter, compared to analyst estimates of $609.52 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Maxim Integrated Products, Inc. will post $2.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be given a dividend of $0.36 per share. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 3.24%. Maxim Integrated Products’s dividend payout ratio is presently 66.33%.

Maxim Integrated Products declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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A number of equities research analysts have issued reports on MXIM shares. B. Riley reaffirmed a “neutral” rating and set a $44.00 target price on shares of Maxim Integrated Products in a research report on Friday, April 21st. Zacks Investment Research cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $47.00 target price (up previously from $45.00) on shares of Maxim Integrated Products in a research report on Monday, April 24th. Finally, Raymond James Financial, Inc. reaffirmed a “mkt perform” rating on shares of Maxim Integrated Products in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Maxim Integrated Products presently has a consensus rating of “Hold” and a consensus price target of $47.61.

In related news, CFO Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $46.33, for a total transaction of $1,158,250.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tunc Doluca sold 3,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $47.00, for a total value of $141,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,548 shares of company stock worth $7,870,211. 1.30% of the stock is owned by corporate 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 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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