OLD National Bancorp IN Raises Stake in Maxim Integrated Products Inc. (NASDAQ:MXIM)

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OLD National Bancorp IN increased its holdings in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 8.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,480 shares of the semiconductor company’s stock after buying an additional 4,186 shares during the period. OLD National Bancorp IN’s holdings in Maxim Integrated Products were worth $3,199,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Maxim Integrated Products in the fourth quarter valued at $279,000. First Republic Investment Management Inc. boosted its holdings in Maxim Integrated Products by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 18,786 shares of the semiconductor company’s stock valued at $999,000 after purchasing an additional 615 shares during the last quarter. Cordatus Wealth Management LLC purchased a new stake in Maxim Integrated Products in the first quarter valued at $940,000. AdvisorNet Financial Inc boosted its holdings in Maxim Integrated Products by 10.4% in the second quarter. AdvisorNet Financial Inc now owns 4,242 shares of the semiconductor company’s stock valued at $254,000 after purchasing an additional 400 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Maxim Integrated Products by 2.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 40,852 shares of the semiconductor company’s stock valued at $2,171,000 after purchasing an additional 890 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

In other Maxim Integrated Products news, Director Joseph R. Bronson sold 12,600 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $56.07, for a total value of $706,482.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tunc Doluca sold 7,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $61.16, for a total transaction of $428,120.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,100 shares of company stock valued at $1,964,877. 0.85% of the stock is owned by insiders.

MXIM opened at $53.09 on Tuesday. Maxim Integrated Products Inc. has a twelve month low of $46.64 and a twelve month high of $65.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.18 and a current ratio of 6.84. The stock’s 50-day moving average is $59.96. The firm has a market cap of $15.13 billion, a P/E ratio of 21.85, a PEG ratio of 2.14 and a beta of 1.38.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The company had revenue of $557.00 million during the quarter, compared to the consensus estimate of $559.97 million. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. Maxim Integrated Products’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, sell-side analysts expect that Maxim Integrated Products Inc. will post 2.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a $0.48 dividend. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $1.92 dividend on an annualized basis and a yield of 3.62%. Maxim Integrated Products’s dividend payout ratio is presently 75.72%.

A number of research analysts have weighed in on the stock. BidaskClub downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Benchmark assumed coverage on shares of Maxim Integrated Products in a research report on Thursday, August 1st. They issued a “hold” rating for the company. Bank of America reiterated a “neutral” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Maxim Integrated Products in a research report on Wednesday, May 1st. Barclays upped their price objective on shares of Maxim Integrated Products from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Finally, MKM Partners upped their price objective on shares of Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Maxim Integrated Products has a consensus rating of “Hold” and an average target price of $61.75.

About Maxim Integrated Products

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

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

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