Patriot Investment Management Inc. acquired a new stake in shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) during the first quarter, Holdings Channel reports. The fund acquired 11,754 shares of the semiconductor company’s stock, valued at approximately $624,000.

Several other hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. lifted its position in shares of Maxim Integrated Products by 1.2% during the 1st quarter. Valley National Advisers Inc. now owns 17,053 shares of the semiconductor company’s stock valued at $907,000 after buying an additional 197 shares in the last quarter. CWM LLC lifted its position in shares of Maxim Integrated Products by 38.5% during the 1st quarter. CWM LLC now owns 828 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 230 shares in the last quarter. Stanley Laman Group Ltd. lifted its position in shares of Maxim Integrated Products by 1.6% during the 4th quarter. Stanley Laman Group Ltd. now owns 16,431 shares of the semiconductor company’s stock valued at $836,000 after buying an additional 262 shares in the last quarter. First Personal Financial Services lifted its position in shares of Maxim Integrated Products by 76.9% during the 1st quarter. First Personal Financial Services now owns 683 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 297 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Maxim Integrated Products by 0.5% during the 4th quarter. Trust Co. of Vermont now owns 68,036 shares of the semiconductor company’s stock valued at $3,459,000 after buying an additional 319 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

MXIM has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on Maxim Integrated Products from $60.00 to $55.00 in a research report on Monday, January 14th. Maxim Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Maxim Integrated Products in a research report on Wednesday. BidaskClub cut Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Cowen began coverage on Maxim Integrated Products in a report on Friday, February 22nd. They issued a “market perform” rating and a $56.00 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $64.00 price target on shares of Maxim Integrated Products in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.83.

Shares of MXIM opened at $60.55 on Friday. The company has a market cap of $16.55 billion, a PE ratio of 22.34, a PEG ratio of 2.11 and a beta of 1.35. Maxim Integrated Products Inc. has a 1 year low of $46.64 and a 1 year high of $63.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.85 and a current ratio of 6.54.

Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. The business had revenue of $542.38 million for the quarter, compared to analysts’ expectations of $540.17 million. Maxim Integrated Products had a return on equity of 39.06% and a net margin of 27.36%. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities analysts forecast that Maxim Integrated Products Inc. will post 2.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, May 29th. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

In other news, CEO Tunc Doluca sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $840,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bruce E. Kiddoo sold 8,062 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $55.60, for a total value of $448,247.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,316 shares of company stock worth $3,962,124. Corporate insiders own 0.85% of the company’s stock.

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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.

See Also: Mutual Funds

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

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