First Mercantile Trust Co. lowered its position in Maxim Integrated Products, Inc. (NASDAQ:MXIM) by 19.6% during the second quarter, Holdings Channel reports. The firm owned 10,765 shares of the semiconductor company’s stock after selling 2,619 shares during the period. First Mercantile Trust Co.’s holdings in Maxim Integrated Products were worth $483,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake 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 buying an additional 764 shares during the last quarter. Duncker Streett & Co. Inc. raised its stake 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 worth $107,000 after buying an additional 870 shares during the last quarter. TrimTabs Asset Management LLC raised its stake 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 worth $128,000 after buying an additional 1,344 shares during the last quarter. Toronto Dominion Bank raised its stake 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 worth $139,000 after buying an additional 642 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Maxim Integrated Products by 68.5% in the second quarter. IFP Advisors Inc now owns 3,114 shares of the semiconductor company’s stock worth $140,000 after buying an additional 1,266 shares during the last quarter. Institutional investors own 90.20% of the company’s stock.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) opened at 45.33 on Wednesday. The firm has a market cap of $12.82 billion, a PE ratio of 22.89 and a beta of 1.04. Maxim Integrated Products, Inc. has a 52 week low of $37.25 and a 52 week high of $49.70. The company has a 50 day moving average of $45.49 and a 200 day moving average of $45.56.

Maxim Integrated Products (NASDAQ:MXIM) last posted 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 net margin of 24.90% and a return on equity of 28.45%. The company had revenue of $602 million during the quarter, compared to analyst estimates of $609.52 million. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio is 66.33%.

Maxim Integrated Products announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding 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 usually an indication that the company’s management believes its stock is undervalued.

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A number of equities research analysts have recently weighed in on the stock. Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, June 9th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $44.00 target price (up from $41.00) on shares of Maxim Integrated Products in a research report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $44.00 target price on shares of Maxim Integrated Products in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Maxim Integrated Products has a consensus rating of “Hold” and an average target price of $47.61.

In related news, CEO Tunc Doluca sold 3,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $47.00, for a total value of $141,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Vivek Jain sold 616 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $46.85, for a total value of $28,859.60. The disclosure for this sale can be found here. Insiders sold 142,548 shares of company stock valued at $6,711,961 over the last three months. 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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