Equities analysts expect Maxim Integrated Products, Inc. (NASDAQ:MXIM) to post sales of $575.02 million for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Maxim Integrated Products’ earnings, with estimates ranging from $574.72 million to $575.50 million. Maxim Integrated Products posted sales of $561.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The firm is expected to announce its next quarterly earnings report on Thursday, October 19th.

On average, analysts expect that Maxim Integrated Products will report full year sales of $575.02 million for the current year, with estimates ranging from $2.31 billion to $2.42 billion. For the next financial year, analysts anticipate that the company will report sales of $2.47 billion per share, with estimates ranging from $2.38 billion to $2.54 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Maxim Integrated Products.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 20th. The semiconductor company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a net margin of 24.90% and a return on equity of 28.26%. The firm had revenue of $602 million during the quarter, compared to analyst estimates of $609.52 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year.

Several brokerages recently weighed in on MXIM. Zacks Investment Research upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, June 9th. Stifel Nicolaus reiterated a “buy” rating and set a $54.00 price target (up from $52.00) on shares of Maxim Integrated Products in a research report on Friday, May 26th. B. Riley reiterated a “neutral” rating and set a $44.00 price target on shares of Maxim Integrated Products in a research report on Monday, July 17th. BidaskClub upgraded Maxim Integrated Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, Morgan Stanley lifted their price target on Maxim Integrated Products from $37.00 to $40.00 and gave the company an “underweight” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.06.

Shares of Maxim Integrated Products (MXIM) opened at 46.66 on Friday. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 23.57 and a beta of 1.04. The stock’s 50 day moving average is $45.37 and its 200 day moving average is $45.55. Maxim Integrated Products has a 52-week low of $37.25 and a 52-week high of $49.70.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.09%. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 29th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 66.33%.

Maxim Integrated Products declared that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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In related news, CEO Tunc Doluca sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $44.72, for a total value of $536,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Vivek Jain sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $45.21, for a total value of $452,100.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,029 shares of company stock valued at $6,637,899. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MXIM. Proficio Capital Partners LLC increased its position in Maxim Integrated Products by 51.4% in the first quarter. Proficio Capital Partners LLC now owns 2,251 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 764 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Maxim Integrated Products by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,371 shares of the semiconductor company’s stock valued at $106,000 after buying an additional 343 shares during the last quarter. Highstreet Asset Management Inc. purchased a new position in Maxim Integrated Products during the second quarter valued at $115,000. Acrospire Investment Management LLC increased its position in Maxim Integrated Products by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 2,800 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 1,600 shares during the last quarter. Finally, TrimTabs Asset Management LLC increased its position in Maxim Integrated Products by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,854 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 1,344 shares during the last quarter. 90.13% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Maxim Integrated Products (NASDAQ:MXIM)

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