$0.62 Earnings Per Share Expected for Maxim Integrated Products, Inc. (MXIM) This Quarter
Wall Street brokerages expect Maxim Integrated Products, Inc. (NASDAQ:MXIM) to report earnings per share of $0.62 for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Maxim Integrated Products’ earnings. The highest EPS estimate is $0.62 and the lowest is $0.59. Maxim Integrated Products posted earnings of $0.49 per share in the same quarter last year, which would suggest a positive year over year growth rate of 26.5%. The business is expected to report its next earnings results after the market closes on Thursday, July 20th.
On average, analysts expect that Maxim Integrated Products will report full-year earnings of $2.11 per share for the current year, with EPS estimates ranging from $2.07 to $2.13. For the next financial year, analysts forecast that the company will report earnings of $2.39 per share, with EPS estimates ranging from $2.15 to $2.54. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings data on Thursday, April 20th. The semiconductor company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.04. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. The company had revenue of $581 million during the quarter, compared to the consensus estimate of $575.83 million. During the same quarter last year, the company earned $0.41 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis.
MXIM has been the subject of several research analyst reports. Zacks Investment Research cut shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Maxim Group reaffirmed a “hold” rating on shares of Maxim Integrated Products in a research note on Friday, April 21st. Loop Capital reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Drexel Hamilton reaffirmed a “buy” rating and set a $52.00 target price (up from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $49.00 target price (up from $44.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $47.39.
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In other news, VP Edwin Medlin sold 30,646 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $46.99, for a total value of $1,440,055.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $46.33, for a total transaction of $1,158,250.00. The disclosure for this sale can be found here. Insiders sold a total of 250,548 shares of company stock valued at $11,544,456 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MXIM. Dodge & Cox purchased a new stake in Maxim Integrated Products during the fourth quarter valued at about $738,528,000. BlackRock Inc. raised its stake in Maxim Integrated Products by 2,247.2% in the first quarter. BlackRock Inc. now owns 17,583,071 shares of the semiconductor company’s stock valued at $790,536,000 after buying an additional 16,833,967 shares during the period. American Century Companies Inc. raised its stake in Maxim Integrated Products by 10.6% in the first quarter. American Century Companies Inc. now owns 12,156,414 shares of the semiconductor company’s stock valued at $546,552,000 after buying an additional 1,168,581 shares during the period. OppenheimerFunds Inc. raised its stake in Maxim Integrated Products by 33.7% in the first quarter. OppenheimerFunds Inc. now owns 11,693,483 shares of the semiconductor company’s stock valued at $525,738,000 after buying an additional 2,948,722 shares during the period. Finally, State Street Corp raised its stake in Maxim Integrated Products by 5.2% in the first quarter. State Street Corp now owns 6,355,322 shares of the semiconductor company’s stock valued at $285,716,000 after buying an additional 314,953 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.
Shares of Maxim Integrated Products (NASDAQ MXIM) opened at 45.05 on Thursday. The company has a market cap of $12.73 billion, a P/E ratio of 25.89 and a beta of 1.02. Maxim Integrated Products has a 12 month low of $33.38 and a 12 month high of $49.70. The firm has a 50 day moving average price of $46.85 and a 200-day moving average price of $44.04.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a $0.33 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $1.32 annualized dividend and a dividend yield of 2.93%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 75.86%.
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.
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