Peregrine Asset Advisers Inc. Continues to Hold Holdings in Maxim Integrated Products, Inc. (MXIM)

Peregrine Asset Advisers Inc. maintained its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,000 shares of the semiconductor company’s stock at the end of the second quarter. Peregrine Asset Advisers Inc.’s holdings in Maxim Integrated Products were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Shell Asset Management Co. lifted its position in Maxim Integrated Products by 0.3% during the first quarter. Shell Asset Management Co. now owns 18,656 shares of the semiconductor company’s stock valued at $839,000 after purchasing an additional 54 shares during the period. Fiera Capital Corp lifted its position in Maxim Integrated Products by 0.7% during the second quarter. Fiera Capital Corp now owns 15,596 shares of the semiconductor company’s stock valued at $700,000 after purchasing an additional 107 shares during the period. Gateway Investment Advisers LLC lifted its position in Maxim Integrated Products by 2.1% during the second quarter. Gateway Investment Advisers LLC now owns 8,871 shares of the semiconductor company’s stock valued at $398,000 after purchasing an additional 181 shares during the period. Weaver C. Barksdale & Associates Inc. lifted its position in Maxim Integrated Products by 0.8% during the second quarter. Weaver C. Barksdale & Associates Inc. now owns 31,651 shares of the semiconductor company’s stock valued at $1,421,000 after purchasing an additional 240 shares during the period. Finally, Foresters Investment Management Company Inc. lifted its position in Maxim Integrated Products by 4.5% during the first quarter. Foresters Investment Management Company Inc. now owns 7,000 shares of the semiconductor company’s stock valued at $315,000 after purchasing an additional 300 shares during the period. Institutional investors own 90.14% of the company’s stock.

MXIM has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Drexel Hamilton restated a “buy” rating and set a $52.00 price objective on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Loop Capital reiterated a “buy” rating and issued a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. Finally, B. Riley reiterated a “neutral” rating and issued a $47.00 price target on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.06.

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Shares of Maxim Integrated Products, Inc. (NASDAQ MXIM) traded up 0.30% during mid-day trading on Tuesday, hitting $46.66. 288,546 shares of the stock were exchanged. The company has a market cap of $13.16 billion, a P/E ratio of 23.57 and a beta of 1.04. The stock’s 50-day moving average price is $45.23 and its 200-day moving average price is $45.62. Maxim Integrated Products, Inc. has a 52-week low of $37.25 and a 52-week high of $49.70.

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

Maxim Integrated Products announced that its board has initiated a share 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 reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. The ex-dividend date is 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 yield of 3.10%. Maxim Integrated Products’s dividend payout ratio is currently 72.36%.

In other Maxim Integrated Products news, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $45.69, for a total transaction of $159,915.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Vivek Jain sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $45.21, for a total transaction of $452,100.00. The disclosure for this sale can be found here. Insiders have sold 132,883 shares of company stock valued at $6,051,983 over the last 90 days. 1.30% of the stock is currently owned by company 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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