CIBC World Markets Inc. Has $16.13 Million Position in Maxim Integrated Products, Inc. (NASDAQ:MXIM)

CIBC World Markets Inc. cut its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,167 shares of the semiconductor company’s stock after selling 1,574 shares during the period. CIBC World Markets Inc. owned 0.13% of Maxim Integrated Products worth $16,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MXIM. Proficio Capital Partners LLC increased its position in Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock worth $106,000 after buying an additional 764 shares during the period. Highstreet Asset Management Inc. acquired a new stake in Maxim Integrated Products in the second quarter worth $115,000. TrimTabs Asset Management LLC increased its position in Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock worth $128,000 after buying an additional 1,344 shares during the period. Duncker Streett & Co. Inc. increased its position in Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock worth $129,000 after buying an additional 500 shares during the period. Finally, Toronto Dominion Bank increased its position in Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock worth $139,000 after buying an additional 642 shares during the period. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and issued a $47.00 target price on shares of Maxim Integrated Products in a research report on Tuesday. Maxim Group reaffirmed a “buy” rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Drexel Hamilton reissued a “buy” rating and issued a $52.00 price target on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Loop Capital reissued a “buy” rating and issued a $53.00 price target on shares of Maxim Integrated Products in a research note on Thursday, August 31st. Finally, BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $48.06.

In other Maxim Integrated Products news, Director Mary Ann Wright sold 560 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher J. Neil sold 3,500 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $46.76, for a total value of $163,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,443 shares of company stock valued at $6,077,906. 1.30% of the stock is owned by insiders.

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Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded up 0.96% during trading on Friday, hitting $47.25. The company had a trading volume of 826,973 shares. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 23.86 and a beta of 1.04. Maxim Integrated Products, Inc. has a 12-month low of $37.25 and a 12-month high of $49.70. The firm has a 50-day moving average of $45.44 and a 200 day moving average of $45.65.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $602.00 million during the quarter, compared to analysts’ expectations of $609.52 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s quarterly revenue 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 year.

Maxim Integrated Products declared that its board has initiated a share repurchase plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.08%. Maxim Integrated Products’s payout ratio is 72.36%.

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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