Nationwide Fund Advisors Raises Stake in Maxim Integrated Products, Inc. (MXIM)

Nationwide Fund Advisors lifted its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 28.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 674,048 shares of the semiconductor company’s stock after acquiring an additional 148,882 shares during the quarter. Nationwide Fund Advisors owned 0.24% of Maxim Integrated Products worth $30,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in shares of Maxim Integrated Products by 51.4% in the 1st quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Maxim Integrated Products by 16.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock worth $106,000 after acquiring an additional 343 shares in the last quarter. Highstreet Asset Management Inc. acquired a new position in shares of Maxim Integrated Products in the 2nd quarter worth approximately $115,000. Duncker Streett & Co. Inc. grew its position in shares of Maxim Integrated Products by 21.1% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 500 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Maxim Integrated Products by 26.1% in the 1st quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock worth $139,000 after acquiring an additional 642 shares in the last quarter. Institutional investors own 90.14% of the company’s stock.

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Several research analysts have recently commented on the company. B. Riley reiterated a “neutral” rating and issued a $47.00 target price on shares of Maxim Integrated Products in a research report on Tuesday. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Maxim Integrated Products in a research report on Friday, June 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 target price (up previously from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, eight have issued 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.

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

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company had revenue of $602.00 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 company’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Maxim Integrated Products, Inc. will post $2.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were paid a $0.36 dividend. 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 dividend yield of 3.06%. The ex-dividend date was Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is currently 72.36%.

Maxim Integrated Products announced that its board has approved a share buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Mary Ann Wright sold 560 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $46.29, for a total transaction of $25,922.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Edward Grady sold 30,849 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 133,443 shares of company stock worth $6,077,906. Corporate insiders own 1.30% of the company’s stock.

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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