Maxim Integrated Products, Inc. (NASDAQ:MXIM) Releases Q1 Earnings Guidance
Maxim Integrated Products, Inc. (NASDAQ:MXIM) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.48-0.54 for the period, compared to the Thomson Reuters consensus estimate of $0.58. The company issued revenue guidance of $555-595 million, compared to the consensus revenue estimate of $592.35 million.
Maxim Integrated Products, Inc. (MXIM) traded up 1.55% during midday trading on Thursday, hitting $47.84. 2,850,007 shares of the stock traded hands. The firm has a market cap of $13.52 billion, a PE ratio of 27.49 and a beta of 1.04. Maxim Integrated Products, Inc. has a 12 month low of $37.25 and a 12 month high of $49.70. The company’s 50 day moving average price is $46.55 and its 200 day moving average price is $44.99.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, April 20th. The semiconductor company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04. The business had revenue of $581 million during the quarter, compared to the consensus estimate of $575.83 million. Maxim Integrated Products had a return on equity of 26.73% and a net margin of 22.16%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Equities research analysts predict that Maxim Integrated Products, Inc. will post $2.12 earnings per share for the current fiscal year.
Several research analysts recently commented 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 for the company. 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 for the company. Drexel Hamilton reissued 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. reissued 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 reissued 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 investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $47.44.
In related news, VP Christopher J. Neil sold 51,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $44.24, for a total transaction of $2,256,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tunc Doluca sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $49.00, for a total value of $294,000.00. 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.
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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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