Brokerages expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to report $630.62 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Maxim Integrated Products’ earnings, with estimates ranging from $629.54 million to $636.00 million. Maxim Integrated Products posted sales of $602.01 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The business is expected to announce its next earnings results on Thursday, July 19th.
According to Zacks, analysts expect that Maxim Integrated Products will report full year sales of $2.48 billion for the current fiscal year. For the next year, analysts forecast that the firm will report sales of $2.60 billion per share, with estimates ranging from $2.53 billion to $2.67 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Thursday, April 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm had revenue of $648.60 million during the quarter, compared to analysts’ expectations of $640.50 million. Maxim Integrated Products had a net margin of 17.82% and a return on equity of 35.78%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share.
MXIM has been the subject of a number of analyst reports. Macquarie cut shares of Maxim Integrated Products from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $62.00 to $64.00 in a report on Wednesday, February 28th. ValuEngine upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub cut shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 21st. Citigroup reduced their price target on shares of Maxim Integrated Products from $59.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, April 30th. Finally, Zacks Investment Research upgraded shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Monday, April 30th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Maxim Integrated Products has a consensus rating of “Hold” and a consensus target price of $57.38.
In other news, insider Bryan Preeshl sold 1,199 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $60.63, for a total value of $72,695.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Ann Wright sold 440 shares of the business’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $57.51, for a total transaction of $25,304.40. The disclosure for this sale can be found here. In the last three months, insiders sold 62,755 shares of company stock worth $3,617,434. 1.11% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of Maxim Integrated Products in the first quarter worth $106,000. Aviance Capital Management LLC lifted its position in shares of Maxim Integrated Products by 38,728.6% in the fourth quarter. Aviance Capital Management LLC now owns 2,718 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 2,711 shares in the last quarter. NuWave Investment Management LLC bought a new stake in shares of Maxim Integrated Products in the fourth quarter worth $169,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Maxim Integrated Products in the first quarter worth $205,000. Finally, Cigna Investments Inc. New bought a new stake in Maxim Integrated Products during the first quarter worth $209,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ MXIM traded up $0.59 during trading on Monday, reaching $61.14. 72,827 shares of the stock traded hands, compared to its average volume of 2,727,130. The stock has a market cap of $16.99 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.21 and a beta of 1.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.82 and a current ratio of 4.16. Maxim Integrated Products has a fifty-two week low of $43.42 and a fifty-two week high of $74.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 31st will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, May 30th. Maxim Integrated Products’s dividend payout ratio is presently 79.25%.
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, rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
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