Zacks: Analysts Anticipate Maxim Integrated Products, Inc. (MXIM) to Announce $0.55 Earnings Per Share
Equities research analysts predict that Maxim Integrated Products, Inc. (NASDAQ:MXIM) will post $0.55 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Maxim Integrated Products’ earnings. The lowest EPS estimate is $0.54 and the highest is $0.56. Maxim Integrated Products posted earnings per share of $0.48 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The business is expected to issue its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that Maxim Integrated Products will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.46. For the next financial year, analysts anticipate that the company will report earnings of $2.54 per share, with EPS estimates ranging from $2.31 to $2.67. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $602 million for the quarter, compared to analysts’ expectations of $609.52 million. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.45%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share.
Several equities analysts have recently issued reports on MXIM shares. BidaskClub lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley reissued a “neutral” rating and set a $44.00 target price on shares of Maxim Integrated Products in a report on Friday, April 21st. Zacks Investment Research lowered Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Jefferies Group LLC reissued a “buy” rating on shares of Maxim Integrated Products in a report on Tuesday, July 11th. Finally, Morgan Stanley upped their price objective on Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. Maxim Integrated Products has a consensus rating of “Hold” and an average price target of $47.61.
In related news, VP Christopher J. Neil sold 51,000 shares of Maxim Integrated Products stock in a transaction on 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 document filed with the SEC, which is available through the SEC website. Also, CEO Tunc Doluca sold 6,000 shares of Maxim Integrated Products stock in a transaction on Tuesday, June 6th. The stock was 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 sold 223,248 shares of company stock worth $10,323,592 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Korea Investment CORP boosted its position in shares of Maxim Integrated Products by 115,956.1% in the first quarter. Korea Investment CORP now owns 388,788 shares of the semiconductor company’s stock valued at $17,480,000 after buying an additional 388,453 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Maxim Integrated Products during the fourth quarter valued at about $1,656,000. Searle & CO. purchased a new stake in shares of Maxim Integrated Products during the fourth quarter valued at about $717,000. Affinity Wealth Management purchased a new stake in shares of Maxim Integrated Products during the first quarter valued at about $267,000. Finally, California Public Employees Retirement System raised its stake in shares of Maxim Integrated Products by 2.0% in the first quarter. California Public Employees Retirement System now owns 683,500 shares of the semiconductor company’s stock valued at $30,730,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Shares of Maxim Integrated Products (MXIM) opened at 44.52 on Tuesday. Maxim Integrated Products has a one year low of $37.25 and a one year high of $49.70. The firm’s 50 day moving average is $46.35 and its 200-day moving average is $45.15. The firm has a market capitalization of $12.59 billion, a PE ratio of 22.48 and a beta of 1.04.
Maxim Integrated Products declared that its board has authorized a share buyback plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Tuesday, August 29th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. Maxim Integrated Products’s dividend payout ratio (DPR) is 66.33%.
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Maxim Integrated Products Company Profile
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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