Maxim Integrated Products, Inc. (MXIM) Shares Bought by Stevens Capital Management LP

Stevens Capital Management LP increased its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 176.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,364 shares of the semiconductor company’s stock after buying an additional 115,792 shares during the period. Stevens Capital Management LP owned about 0.06% of Maxim Integrated Products worth $8,143,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Maxim Integrated Products by 13.4% in the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock worth $895,388,000 after buying an additional 2,358,743 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Maxim Integrated Products by 33.7% during the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock valued at $525,738,000 after purchasing an additional 2,948,722 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Maxim Integrated Products by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 10,593,454 shares of the semiconductor company’s stock valued at $475,645,000 after purchasing an additional 167,748 shares during the last quarter. Wells Fargo & Company MN increased its stake in Maxim Integrated Products by 1.0% during the second quarter. Wells Fargo & Company MN now owns 6,521,747 shares of the semiconductor company’s stock valued at $292,827,000 after purchasing an additional 63,877 shares during the last quarter. Finally, State Street Corp increased its stake in Maxim Integrated Products by 5.2% during the first quarter. State Street Corp now owns 6,355,322 shares of the semiconductor company’s stock valued at $285,716,000 after purchasing an additional 314,953 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.

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Maxim Integrated Products, Inc. (NASDAQ MXIM) traded up 0.43% on Friday, reaching $47.00. The company’s stock had a trading volume of 3,061,272 shares. The company has a market cap of $13.26 billion, a P/E ratio of 23.74 and a beta of 1.04. The company has a 50-day moving average price of $45.48 and a 200 day moving average price of $45.67. Maxim Integrated Products, Inc. has a 12 month low of $37.25 and a 12 month high of $49.70.

Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, equities research analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is presently 72.36%.

Maxim Integrated Products announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In related news, Director Mary Ann Wright sold 560 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.29, for a total transaction of $25,922.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Edward Grady sold 30,849 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,443 shares of company stock valued at $6,077,906. Corporate insiders own 1.30% of the company’s stock.

Several equities analysts have recently commented on the stock. Loop Capital restated a “buy” rating and set a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. BidaskClub lowered shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, June 9th. Drexel Hamilton reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Maxim Integrated Products in a report on Wednesday, September 6th. Finally, Maxim Group reaffirmed a “buy” rating on shares of Maxim Integrated Products in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $48.06.

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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