BB&T Corp Cuts Position in Maxim Integrated Products, Inc. (NASDAQ:MXIM)

BB&T Corp decreased its position in shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 4.5% during the second quarter, Holdings Channel reports. The fund owned 361,653 shares of the semiconductor company’s stock after selling 16,941 shares during the period. BB&T Corp’s holdings in Maxim Integrated Products were worth $16,239,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MXIM. BlackRock Inc. increased its stake in Maxim Integrated Products by 2,247.2% in the first quarter. BlackRock Inc. now owns 17,583,071 shares of the semiconductor company’s stock worth $790,536,000 after buying an additional 16,833,967 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Maxim Integrated Products by 33.7% in the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock worth $525,738,000 after buying an additional 2,948,722 shares during the last quarter. American Century Companies Inc. increased its stake in Maxim Integrated Products by 10.6% in the first quarter. American Century Companies Inc. now owns 12,156,414 shares of the semiconductor company’s stock worth $546,552,000 after buying an additional 1,168,581 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Maxim Integrated Products during the first quarter worth about $41,874,000. Finally, Marshall Wace North America L.P. bought a new stake in Maxim Integrated Products during the first quarter worth about $41,874,000. Institutional investors own 89.40% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (NASDAQ MXIM) traded down 5.73% on Friday, reaching $45.10. The company’s stock had a trading volume of 7,633,005 shares. The stock has a 50-day moving average of $46.55 and a 200 day moving average of $45.01. Maxim Integrated Products, Inc. has a 1-year low of $37.25 and a 1-year high of $49.70. The stock has a market capitalization of $12.74 billion, a PE ratio of 25.92 and a beta of 1.04.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $602 million during the quarter, compared to the consensus estimate of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, equities analysts forecast that Maxim Integrated Products, Inc. will post $2.37 EPS for the current year.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio is 66.33%.

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MXIM has been the subject of a number of research reports. BidaskClub downgraded shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Maxim Group reiterated a “hold” rating on shares of Maxim Integrated Products in a research report on Friday, April 21st. Loop Capital reiterated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Tuesday, March 28th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $52.00 price target (up from $46.00) on shares of Maxim Integrated Products in a research report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Maxim Integrated Products presently has an average rating of “Hold” and a consensus price target of $47.44.

In other Maxim Integrated Products news, Director Joseph R. Bronson sold 18,300 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $45.08, for a total value of $824,964.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $46.33, for a total transaction of $1,158,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,548 shares of company stock valued at $11,148,556. 1.30% of the stock is owned by insiders.

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.

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

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