Strs Ohio Reduces Stake in Maxim Integrated Products, Inc. (MXIM)

Strs Ohio cut its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 22.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,736 shares of the semiconductor company’s stock after selling 6,275 shares during the period. Strs Ohio’s holdings in Maxim Integrated Products were worth $975,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MXIM. Teachers Advisors LLC increased its position in Maxim Integrated Products by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 443,311 shares of the semiconductor company’s stock worth $17,099,000 after buying an additional 40,859 shares during the period. Gulf International Bank UK Ltd increased its position in Maxim Integrated Products by 4.8% in the first quarter. Gulf International Bank UK Ltd now owns 88,184 shares of the semiconductor company’s stock worth $3,964,000 after buying an additional 4,000 shares during the period. National Pension Service increased its position in Maxim Integrated Products by 1.7% in the first quarter. National Pension Service now owns 271,863 shares of the semiconductor company’s stock worth $12,212,000 after buying an additional 4,599 shares during the period. Tompkins Financial Corp increased its position in Maxim Integrated Products by 31.3% in the first quarter. Tompkins Financial Corp now owns 3,962 shares of the semiconductor company’s stock worth $146,000 after buying an additional 944 shares during the period. Finally, Viking Fund Management LLC increased its position in Maxim Integrated Products by 8.0% in the first quarter. Viking Fund Management LLC now owns 27,000 shares of the semiconductor company’s stock worth $1,214,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (MXIM) opened at 45.33 on Wednesday. The stock has a market capitalization of $12.82 billion, a PE ratio of 22.89 and a beta of 1.04. Maxim Integrated Products, Inc. has a 52-week low of $37.25 and a 52-week high of $49.70. The company’s 50 day moving average price is $45.49 and its 200 day moving average price is $45.56.

Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.

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

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. This represents a $1.44 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is currently 66.33%.

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A number of equities analysts have issued reports on MXIM shares. Maxim Group reiterated a “hold” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. B. Riley reiterated a “neutral” rating and issued a $44.00 price objective on shares of Maxim Integrated Products in a report on Friday, April 21st. Evercore ISI restated an “in-line” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, April 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $47.00 price target (up from $45.00) on shares of Maxim Integrated Products in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Maxim Integrated Products presently has an average rating of “Hold” and a consensus target price of $47.61.

In related news, CEO Tunc Doluca sold 12,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $44.72, for a total transaction of $536,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Bruce E. Kiddoo sold 10,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.00, for a total value of $470,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 142,548 shares of company stock worth $6,711,961 over the last ninety days. 1.30% of the stock is currently 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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