Maxim Integrated Products Inc. (MXIM) Releases Q2 Earnings Guidance
Maxim Integrated Products Inc. (NASDAQ:MXIM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.37 to $0.41 for the period, compared to the Thomson Reuters consensus estimate of $0.41, Analyst RN reports.
Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) traded up 0.45% during mid-day trading on Thursday, hitting $29.05. 4,203,699 shares of the company’s stock traded hands. Maxim Integrated Products Inc. has a 52-week low of $25.54 and a 52-week high of $33.67. The stock’s 50-day moving average is $28.34 and its 200-day moving average is $29.7. The company has a market cap of $8.276 billion and a P/E ratio of 19.04.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.01. The company had revenue of $585.20 million for the quarter, compared to the consensus estimate of $584.84 million. During the same quarter last year, the company posted $0.47 earnings per share. Maxim Integrated Products’s revenue was down 6.1% compared to the same quarter last year.
A number of analysts have recently weighed in on MXIM shares. Analysts at B. Riley raised their price target on shares of Maxim Integrated Products from $28.00 to $33.00 in a research note to investors on Tuesday, September 24th. They now have a neutral rating on the stock. On a related note, analysts at Thomson Reuters/Verus upgraded shares of Maxim Integrated Products from a sell rating to a hold rating in a research note to investors on Monday, September 23rd. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Maxim Integrated Products from a neutral rating to a buy rating in a research note to investors on Monday, September 23rd. They now have a $34.00 price target on the stock, up previously from $30.00. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of Hold and a consensus price target of $32.05.
Maxim Integrated Products, Inc (NASDAQ:MXIM), designs, develops, manufactures and markets a range of linear and mixed-signal integrated circuits, commonly referred to as analog circuits, for a large number of customers in diverse geographical locations.
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