Koch Industries Inc. Boosts Stake in Maxim Integrated Products, Inc. (MXIM)

Koch Industries Inc. raised its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 17,243.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 899,089 shares of the semiconductor company’s stock after acquiring an additional 893,905 shares during the quarter. Koch Industries Inc. owned approximately 0.32% of Maxim Integrated Products worth $880,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MXIM. Proficio Capital Partners LLC lifted its holdings in shares of 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 acquiring an additional 764 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Maxim Integrated Products by 16.9% in the second 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 during the last quarter. Highstreet Asset Management Inc. bought a new position in shares of Maxim Integrated Products in the second quarter worth about $115,000. Acrospire Investment Management LLC lifted its holdings in shares of Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of 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 acquiring an additional 500 shares during the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

In other Maxim Integrated Products news, CEO Tunc Doluca sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.60, for a total value of $547,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Ann Wright sold 560 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $46.29, for a total value of $25,922.40. The disclosure for this sale can be found here. Insiders sold 136,443 shares of company stock valued at $6,266,251 in the last quarter. Corporate insiders own 1.11% of the company’s stock.

A number of research analysts have recently commented on the stock. B. Riley reissued a “neutral” rating and issued a $44.00 target price on shares of Maxim Integrated Products in a report on Monday, July 17th. Morgan Stanley increased their target price on shares of Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, July 17th. Maxim Group assumed coverage on shares of Maxim Integrated Products in a report on Friday, June 16th. They issued a “market perform” rating for the company. Raymond James Financial, Inc. reissued a “mkt perform” rating on shares of Maxim Integrated Products in a report on Friday, June 16th. Finally, BidaskClub raised shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $47.29.

Shares of Maxim Integrated Products, Inc. (MXIM) traded up 0.65% on Friday, reaching $49.46. 418,735 shares of the company were exchanged. Maxim Integrated Products, Inc. has a 12-month low of $37.32 and a 12-month high of $49.70. The firm has a market capitalization of $13.95 billion, a PE ratio of 24.98 and a beta of 1.05. The stock’s 50-day moving average is $47.05 and its 200 day moving average is $46.03.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $609.52 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Maxim Integrated Products, Inc. will post $2.33 EPS for the current year.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.44 annualized dividend and a yield of 2.93%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s payout ratio is presently 72.36%.

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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.

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

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