Maxim Integrated Products Inc. (MXIM) Updates Q4 Earnings Guidance
Maxim Integrated Products Inc. (NASDAQ:MXIM) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.45-0.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.46, American Banking News.com reports. The company issued revenue guidance of $635-665 million, compared to the consensus revenue estimate of $638.82 million.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a neutral rating on shares of Maxim Integrated Products in a research note on Tuesday. They now have a $35.00 price target on the stock. On a related note, analysts at ISI Group initiated coverage on shares of Maxim Integrated Products in a research note on Thursday, April 10th. They set a neutral rating and a $36.00 price target on the stock. Finally, analysts at MKM Partners raised their price target on shares of Maxim Integrated Products to $36.20 in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $33.96.
Maxim Integrated Products Inc. (NASDAQ:MXIM) traded up 0.92% on Thursday, hitting $32.99. The stock had a trading volume of 3,370,474 shares. Maxim Integrated Products Inc. has a 52 week low of $26.49 and a 52 week high of $33.78. The stock has a 50-day moving average of $32.45 and a 200-day moving average of $30.10. The company has a market cap of $9.305 billion and a P/E ratio of 24.14.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $604.68 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Maxim Integrated Products Inc. will post $1.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.15%.
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 number of customers in diverse geographical locations.
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