Maxim Integrated Products, Inc. (MXIM) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Maxim Integrated Products, Inc. (NASDAQ:MXIM) released its quarterly earnings data on Thursday. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01, Bloomberg Earnings reports. The business had revenue of $602 million for the quarter, compared to analyst estimates of $609.52 million. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. Maxim Integrated Products’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Maxim Integrated Products updated its Q1 guidance to $0.48-0.54 EPS.
Maxim Integrated Products (MXIM) traded up 1.55% during trading on Thursday, hitting $47.84. The company had a trading volume of 2,885,537 shares. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 27.49 and a beta of 1.04. Maxim Integrated Products has a 1-year low of $37.25 and a 1-year high of $49.70. The company’s 50 day moving average price is $46.55 and its 200-day moving average price is $45.01.
The business also recently disclosed 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. 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 dividend yield of 3.01%. Maxim Integrated Products’s payout ratio is currently 75.86%.
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In related news, Director Joseph R. Bronson sold 18,300 shares of the stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $45.08, for a total transaction of $824,964.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tunc Doluca sold 12,000 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $44.49, for a total value of $533,880.00. The disclosure for this sale can be found here. Insiders have sold a total of 241,548 shares of company stock valued at $11,148,556 over the last 90 days. 1.30% of the stock is currently owned by company insiders.
Several analysts recently weighed in on MXIM shares. MKM Partners started coverage on Maxim Integrated Products in a research note on Friday, April 7th. They issued a “neutral” rating and a $48.00 price objective on the stock. Macquarie started coverage on Maxim Integrated Products in a research note on Friday, March 31st. They issued an “outperform” rating and a $52.00 price objective on the stock. Drexel Hamilton reaffirmed a “buy” rating and issued a $52.00 price objective (up from $46.00) on shares of Maxim Integrated Products in a research note on Friday, April 14th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $44.00 price objective (up from $41.00) on shares of Maxim Integrated Products in a research note on Tuesday, April 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $51.00 price objective (up from $49.00) on shares of Maxim Integrated Products in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Maxim Integrated Products currently has an average rating of “Hold” and an average price target of $47.44.
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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