Maxim Integrated Products Inc. (NASDAQ:MXIM) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.59-$0.65 for the period, compared to the Thomson Reuters consensus estimate of $0.58. The company issued revenue guidance of $590-$630 million, compared to the consensus revenue estimate of $597.94 million.
Maxim Integrated Products Inc. (NASDAQ:MXIM) opened at 46.85 on Friday. The company has a 50-day moving average price of $45.12 and a 200-day moving average price of $42.74. Maxim Integrated Products Inc. has a one year low of $33.38 and a one year high of $47.15. The firm has a market capitalization of $13.24 billion, a P/E ratio of 26.93 and a beta of 1.14.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. Maxim Integrated Products had a return on equity of 24.82% and a net margin of 22.39%. The company had revenue of $581 million for the quarter, compared to analyst estimates of $575.83 million. During the same quarter last year, the firm earned $0.41 EPS. Maxim Integrated Products’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that Maxim Integrated Products Inc. will post $2.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Tuesday, May 30th. Maxim Integrated Products’s payout ratio is presently 76.30%.
MXIM has been the topic of several recent research reports. Zacks Investment Research raised Maxim Integrated Products from a hold rating to a buy rating and set a $51.00 price objective on the stock in a report on Monday, April 24th. Jefferies Group LLC reissued a buy rating and set a $49.00 price objective (up previously from $45.00) on shares of Maxim Integrated Products in a report on Tuesday, January 31st. Stifel Nicolaus reissued a buy rating and set a $50.00 price objective (up previously from $44.00) on shares of Maxim Integrated Products in a report on Friday, April 14th. Evercore ISI reissued an in-line rating on shares of Maxim Integrated Products in a report on Friday, April 21st. Finally, MKM Partners initiated coverage on Maxim Integrated Products in a report on Friday, April 7th. They set a neutral rating and a $48.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $46.32.
In other news, VP Christopher J. Neil sold 51,000 shares of the business’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $44.24, for a total transaction of $2,256,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $46.33, for a total value of $1,158,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 199,505 shares of company stock worth $8,916,072. Insiders own 1.30% of the company’s stock.
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About Maxim Integrated Products
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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