New Mexico Educational Retirement Board lessened its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 18.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,050 shares of the semiconductor company’s stock after selling 3,950 shares during the period. New Mexico Educational Retirement Board’s holdings in Maxim Integrated Products were worth $829,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in Maxim Integrated Products in the fourth quarter valued at approximately $4,401,000. Orion Portfolio Solutions LLC bought a new stake in Maxim Integrated Products in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. increased its stake in Maxim Integrated Products by 52.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 710 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 243 shares in the last quarter. Assetmark Inc. increased its stake in Maxim Integrated Products by 35.0% in the fourth quarter. Assetmark Inc. now owns 779 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 202 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC bought a new stake in Maxim Integrated Products in the first quarter valued at approximately $49,000. 90.09% of the stock is owned by hedge funds and other institutional investors.

Shares of MXIM stock opened at $59.60 on Tuesday. The stock has a market cap of $15.78 billion, a P/E ratio of 20.14, a P/E/G ratio of 2.71 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 5.95 and a quick ratio of 5.39. The company has a fifty day moving average price of $57.80 and a two-hundred day moving average price of $56.98. Maxim Integrated Products Inc. has a one year low of $41.93 and a one year high of $65.73.

Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $562.00 million during the quarter, compared to analysts’ expectations of $553.58 million. Maxim Integrated Products had a net margin of 37.00% and a return on equity of 35.31%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities research analysts anticipate that Maxim Integrated Products Inc. will post 2.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 28th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, May 27th. Maxim Integrated Products’s dividend payout ratio is currently 79.01%.

Several equities research analysts have recently issued reports on MXIM shares. Maxim Group lowered their price objective on shares of Maxim Integrated Products from $65.00 to $52.00 in a research report on Monday, March 30th. Cowen increased their price objective on shares of Maxim Integrated Products from $51.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. SunTrust Banks increased their price objective on shares of Maxim Integrated Products from $52.00 to $55.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Bank of America increased their price objective on shares of Maxim Integrated Products from $53.00 to $58.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 29th. Finally, Barclays lowered their price objective on shares of Maxim Integrated Products from $60.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.63.

In other news, VP Vivek Jain sold 4,302 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.53, for a total transaction of $260,400.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bryan Preeshl sold 1,144 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $55.25, for a total transaction of $63,206.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,446 shares of company stock valued at $3,083,806. Corporate insiders own 0.84% of the company’s stock.

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.

Further Reading: Why Invest in High-Yield Dividend Stocks?

Want to see what other hedge funds are holding MXIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Maxim Integrated Products Inc. (NASDAQ:MXIM).

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

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.