BB&T Corp reduced its stake in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,653 shares of the semiconductor company’s stock after selling 16,941 shares during the period. BB&T Corp owned about 0.13% of Maxim Integrated Products worth $16,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its position 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 valued at $106,000 after buying an additional 764 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of Maxim Integrated Products by 57.8% in the first quarter. Duncker Streett & Co. Inc. now owns 2,374 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 870 shares during the period. TrimTabs Asset Management LLC increased its position in shares of 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 valued at $128,000 after buying an additional 1,344 shares during the period. Toronto Dominion Bank increased its position in shares of Maxim Integrated Products by 26.1% in the first quarter. Toronto Dominion Bank now owns 3,099 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 642 shares during the period. Finally, Tompkins Financial Corp increased its position in shares of Maxim Integrated Products by 31.3% in the first quarter. Tompkins Financial Corp now owns 3,962 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 944 shares during the period. 89.40% of the stock is owned by hedge funds and other institutional investors.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded down 5.73% during mid-day trading on Friday, hitting $45.10. The stock had a trading volume of 7,633,005 shares. The firm has a 50 day moving average price of $46.55 and a 200 day moving average price of $45.01. Maxim Integrated Products, Inc. has a 52-week low of $37.25 and a 52-week high of $49.70. The firm has a market cap of $12.74 billion, a PE ratio of 25.92 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.45% and a net margin of 24.90%. The business had revenue of $602 million for the quarter, compared to analysts’ expectations of $609.52 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Maxim Integrated Products, Inc. will post $2.37 EPS for the current year.

Maxim Integrated Products declared that its board has initiated a share buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 66.33%.

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MXIM has been the topic of several research analyst reports. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, April 24th. Stifel Nicolaus restated a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Evercore ISI restated an “in-line” rating on shares of Maxim Integrated Products in a research note on Friday, April 21st. MKM Partners initiated coverage on Maxim Integrated Products in a research note on Friday, April 7th. They set a “neutral” rating and a $48.00 target price on the stock. Finally, Drexel Hamilton restated a “buy” rating and set a $52.00 target price (up from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.44.

In related news, Director William D. Watkins sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $44.93, for a total transaction of $188,706.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher J. Neil sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $45.69, for a total value of $159,915.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,548 shares of company stock worth $11,148,556. Corporate insiders own 1.30% of the company’s stock.

Maxim Integrated Products Company 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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