Brokers Offer Predictions for Maxim Integrated Products, Inc.’s Q2 2018 Earnings (MXIM)
Maxim Integrated Products, Inc. (NASDAQ:MXIM) – KeyCorp boosted their Q2 2018 earnings per share (EPS) estimates for Maxim Integrated Products in a report released on Thursday. KeyCorp analyst M. Mcconnell now anticipates that the semiconductor company will earn $0.65 per share for the quarter, up from their previous forecast of $0.58. KeyCorp currently has a “Overweight” rating and a $57.00 price objective on the stock. KeyCorp also issued estimates for Maxim Integrated Products’ Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.72 EPS, Q1 2019 earnings at $0.72 EPS and Q2 2019 earnings at $0.69 EPS.
A number of other analysts have also recently issued reports on MXIM. Jefferies Group LLC restated a “buy” rating on shares of Maxim Integrated Products in a research report on Tuesday, July 11th. BidaskClub upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. B. Riley reiterated a “neutral” rating and issued a $44.00 price target on shares of Maxim Integrated Products in a research report on Monday, July 17th. Morgan Stanley upped 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. Finally, Loop Capital reiterated a “buy” rating and issued a $43.00 price target on shares of Maxim Integrated Products in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $51.55.
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Shares of Maxim Integrated Products (NASDAQ:MXIM) opened at 52.09 on Monday. Maxim Integrated Products has a 1-year low of $37.32 and a 1-year high of $53.10. The firm has a 50-day moving average price of $47.85 and a 200-day moving average price of $46.26. The company has a market capitalization of $14.69 billion, a PE ratio of 26.31 and a beta of 1.05.
Maxim Integrated Products (NASDAQ:MXIM) last posted its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $576.00 million for the quarter, compared to analysts’ expectations of $576.80 million. Maxim Integrated Products had a return on equity of 29.64% and a net margin of 25.48%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share.
Maxim Integrated Products declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 70.24%.
In other news, 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 transaction of $159,845.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $45.28, for a total value of $1,132,000.00. The disclosure for this sale can be found here. Insiders have sold 136,443 shares of company stock worth $6,266,251 in the last ninety days. 1.11% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of MXIM. BlackRock Inc. lifted its stake in shares of Maxim Integrated Products by 13.4% during the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after acquiring an additional 2,358,743 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Maxim Integrated Products by 483.2% during the second quarter. Principal Financial Group Inc. now owns 2,236,143 shares of the semiconductor company’s stock valued at $100,403,000 after acquiring an additional 1,852,730 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Maxim Integrated Products during the second quarter valued at $73,792,000. JPMorgan Chase & Co. lifted its stake in shares of Maxim Integrated Products by 98.8% during the second quarter. JPMorgan Chase & Co. now owns 2,258,111 shares of the semiconductor company’s stock valued at $101,387,000 after acquiring an additional 1,122,327 shares during the period. Finally, Koch Industries Inc. lifted its stake in shares of Maxim Integrated Products by 17,243.5% during the second quarter. Koch Industries Inc. now owns 899,089 shares of the semiconductor company’s stock valued at $880,000 after acquiring an additional 893,905 shares during the period. 89.49% of the stock is currently owned by institutional investors and hedge funds.
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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