OLD National Bancorp IN raised its holdings in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,723 shares of the semiconductor company’s stock after acquiring an additional 3,755 shares during the quarter. OLD National Bancorp IN’s holdings in Maxim Integrated Products were worth $2,134,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Fiera Capital Corp grew its stake in Maxim Integrated Products by 0.7% during the 2nd quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock valued at $700,000 after acquiring an additional 107 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Maxim Integrated Products by 2.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock valued at $398,000 after acquiring an additional 181 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in Maxim Integrated Products by 5.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,248 shares of the semiconductor company’s stock valued at $191,000 after acquiring an additional 234 shares in the last quarter. Weaver C. Barksdale & Associates Inc. grew its stake in Maxim Integrated Products by 0.8% during the 2nd quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock valued at $1,421,000 after acquiring an additional 240 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in Maxim Integrated Products by 1.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 30,734 shares of the semiconductor company’s stock valued at $1,380,000 after acquiring an additional 315 shares in the last quarter. 89.40% of the stock is currently owned by institutional investors.

In other Maxim Integrated Products news, CFO Bruce E. Kiddoo sold 22,398 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $51.68, for a total value of $1,157,528.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Vivek Jain sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $45.21, for a total value of $452,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,134 shares of company stock valued at $9,928,743. Corporate insiders own 1.11% of the company’s stock.

MXIM has been the topic of several research analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 target price on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Morgan Stanley lifted their target price on Maxim Integrated Products from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Friday, October 20th. Loop Capital reaffirmed a “buy” rating and set a $53.00 target price on shares of Maxim Integrated Products in a research note on Thursday, August 31st. Wells Fargo & Company lifted their target price on Maxim Integrated Products from $44.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Finally, KeyCorp lifted their target price on Maxim Integrated Products from $49.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $52.14.

Shares of Maxim Integrated Products, Inc. (MXIM) opened at 52.64 on Wednesday. Maxim Integrated Products, Inc. has a 12-month low of $37.32 and a 12-month high of $53.10. The company has a 50-day moving average price of $48.91 and a 200 day moving average price of $46.66. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 26.59 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $576.00 million during the quarter, compared to the consensus estimate of $576.80 million. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. Equities research analysts expect that Maxim Integrated Products, Inc. will post $2.53 earnings per share for the current fiscal year.

Maxim Integrated Products declared that its Board of Directors has approved a stock buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in 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 often a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 2.74%. Maxim Integrated Products’s dividend payout ratio is 70.24%.

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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.

Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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