Maxim Integrated Products, Inc. (MXIM) Scheduled to Post Quarterly Earnings on Wednesday
Maxim Integrated Products, Inc. (NASDAQ:MXIM) will issue its quarterly earnings data after the market closes on Wednesday, October 18th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Maxim Integrated Products has set its Q1 guidance at $0.48-0.54 EPS.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, July 20th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. Maxim Integrated Products had a return on equity of 28.26% and a net margin of 24.90%. The company had revenue of $602.00 million for the quarter, compared to analyst estimates of $609.52 million. During the same quarter last year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect Maxim Integrated Products to post $2.34 EPS for the current fiscal year and $2.50 EPS for the next fiscal year.
Maxim Integrated Products, Inc. (NASDAQ MXIM) opened at 48.98 on Wednesday. Maxim Integrated Products, Inc. has a 12-month low of $37.25 and a 12-month high of $49.70. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 24.74 and a beta of 1.05. The stock has a 50 day moving average price of $46.79 and a 200-day moving average price of $45.99.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were given a $0.36 dividend. This is a boost 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 2.94%. The ex-dividend date of this dividend was Tuesday, August 29th. Maxim Integrated Products’s payout ratio is currently 72.36%.
Maxim Integrated Products declared that its board has initiated a stock repurchase plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, CEO Tunc Doluca sold 12,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.60, for a total value of $547,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Neil sold 3,500 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.67, for a total value of $159,845.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,443 shares of company stock valued at $6,266,251. Company insiders own 1.11% of the company’s stock.
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MXIM has been the topic of several analyst reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Maxim Integrated Products in a research report on Thursday, August 31st. Finally, Maxim Group reaffirmed a “buy” rating on shares of Maxim Integrated Products in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.29.
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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