Maxim Integrated Products, Inc. (MXIM) Releases Q2 Earnings Guidance

Maxim Integrated Products, Inc. (NASDAQ:MXIM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.61-0.67 for the period, compared to the Thomson Reuters consensus estimate of $0.57. The company issued revenue guidance of $600-640 million, compared to the consensus revenue estimate of $585.09 million.

Shares of Maxim Integrated Products, Inc. (NASDAQ:MXIM) traded up 0.48% on Thursday, hitting $50.09. The stock had a trading volume of 2,475,580 shares. Maxim Integrated Products, Inc. has a one year low of $37.32 and a one year high of $50.23. The company’s 50 day moving average is $47.57 and its 200 day moving average is $46.18. The stock has a market cap of $14.13 billion, a PE ratio of 25.30 and a beta of 1.05.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Wednesday, October 18th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $576.80 million. During the same period last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Maxim Integrated Products, Inc. will post $2.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.87%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 72.36%.

Maxim Integrated Products declared that its Board of Directors has authorized a share buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of research analysts have recently weighed in on the stock. Barclays PLC raised their price objective on shares of Maxim Integrated Products from $46.00 to $50.00 and gave the stock an equal weight rating in a research note on Wednesday. B. Riley reaffirmed a hold rating and issued a $47.00 target price on shares of Maxim Integrated Products in a research note on Monday. Morgan Stanley reaffirmed an underweight rating and issued a $40.00 target price on shares of Maxim Integrated Products in a research note on Wednesday, September 20th. Maxim Group reaffirmed a buy rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $52.00 target price on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Maxim Integrated Products presently has an average rating of Hold and a consensus price target of $47.47.

In related news, CEO Tunc Doluca sold 15,000 shares of Maxim Integrated Products stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.91, for a total transaction of $718,650.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Ann Wright sold 560 shares of Maxim Integrated Products stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.29, for a total transaction of $25,922.40. The disclosure for this sale can be found here. Insiders have sold a total of 136,443 shares of company stock worth $6,266,251 in the last 90 days. Company insiders own 1.11% 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.

Earnings History and Estimates for Maxim Integrated Products (NASDAQ:MXIM)

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