Maxim Integrated Products, Inc. (MXIM) Expected to Post Quarterly Sales of $575.02 Million
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.
TRADEMARK VIOLATION WARNING: “Maxim Integrated Products, Inc. (MXIM) Expected to Post Quarterly Sales of $575.02 Million” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/01/maxim-integrated-products-inc-mxim-expected-to-post-quarterly-sales-of-575-02-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Maxim Integrated Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.