Analysts Expect Maxim Integrated Products, Inc. (MXIM) Will Post Earnings of $0.55 Per Share
Analysts expect that Maxim Integrated Products, Inc. (NASDAQ:MXIM) will report $0.55 earnings per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Maxim Integrated Products’ earnings. The highest EPS estimate is $0.56 and the lowest is $0.54. Maxim Integrated Products posted earnings per share of $0.48 during the same quarter last year, which indicates a positive year over year growth rate of 14.6%. The company is scheduled to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Maxim Integrated Products will report full-year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.46. For the next financial year, analysts anticipate that the business will report earnings of $2.52 per share, with EPS estimates ranging from $2.31 to $2.67. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company had revenue of $602 million for the quarter, compared to the consensus estimate of $609.52 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. Maxim Integrated Products’s revenue was up 6.3% on a year-over-year basis.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, June 9th. Stifel Nicolaus reissued a “buy” rating and set a $54.00 price target (up previously from $52.00) on shares of Maxim Integrated Products in a research note on Friday, May 26th. B. Riley reissued a “neutral” rating and set a $44.00 price target on shares of Maxim Integrated Products in a research note on Monday, July 17th. BidaskClub raised Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Morgan Stanley lifted their price objective on Maxim Integrated Products from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.17.
In other Maxim Integrated Products news, Director Robert Edward Grady sold 30,849 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $45.04, for a total value of $1,389,438.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Tunc Doluca sold 6,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $49.00, for a total transaction of $294,000.00. The disclosure for this sale can be found here. Insiders sold a total of 145,029 shares of company stock worth $6,637,899 over the last quarter. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of MXIM. Proficio Capital Partners LLC raised its stake in Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 764 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 343 shares in the last quarter. Highstreet Asset Management Inc. bought a new stake in Maxim Integrated Products during the second quarter valued at about $115,000. Acrospire Investment Management LLC raised its stake in Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,600 shares in the last quarter. Finally, TrimTabs Asset Management LLC raised its stake in Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 1,344 shares in the last quarter. Institutional investors own 90.13% of the company’s stock.
Maxim Integrated Products (MXIM) traded up 1.81% on Wednesday, reaching $45.56. The company’s stock had a trading volume of 2,045,766 shares. Maxim Integrated Products has a 1-year low of $37.25 and a 1-year high of $49.70. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 23.01 and a beta of 1.04. The firm’s 50 day moving average price is $45.44 and its 200-day moving average price is $45.54.
Maxim Integrated Products declared that its board has initiated a share repurchase plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be paid a $0.36 dividend. The ex-dividend date is Tuesday, August 29th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.16%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 66.33%.
Maxim Integrated Products Company Profile
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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