Q2 2018 EPS Estimates for Maxim Integrated Products, Inc. Boosted by Jefferies Group (MXIM)
Maxim Integrated Products, Inc. (NASDAQ:MXIM) – Research analysts at Jefferies Group raised their Q2 2018 earnings per share estimates for Maxim Integrated Products in a note issued to investors on Friday. Jefferies Group analyst M. Lipacis now forecasts that the semiconductor company will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.57. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Maxim Integrated Products’ Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.66 EPS.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $576.00 million during 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS.
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Several other equities analysts also recently commented on the company. Loop Capital reiterated a “buy” rating and issued a $43.00 price objective on shares of Maxim Integrated Products in a research note on Tuesday, August 22nd. Maxim Group reiterated a “buy” rating on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Drexel Hamilton reiterated a “buy” rating and issued a $52.00 price objective on shares of Maxim Integrated Products in a research note on Wednesday, September 6th. Credit Suisse Group upped their price objective on Maxim Integrated Products from $46.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday. 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 research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $51.55.
Shares of Maxim Integrated Products (MXIM) opened at 52.09 on Monday. The firm has a market capitalization of $14.69 billion, a PE ratio of 26.31 and a beta of 1.05. Maxim Integrated Products has a 12-month low of $37.32 and a 12-month high of $53.10. The company’s 50-day moving average price is $47.85 and its 200 day moving average price is $46.26.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its stake 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 acquiring an additional 764 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 acquiring an additional 343 shares during the last quarter. Highstreet Asset Management Inc. bought a new position in Maxim Integrated Products in the second quarter valued at $115,000. Acrospire Investment Management LLC increased its stake 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 acquiring an additional 1,600 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its stake in Maxim Integrated Products by 21.1% in the second quarter. Duncker Streett & Co. Inc. now owns 2,874 shares of the semiconductor company’s stock valued at $129,000 after acquiring an additional 500 shares during the last quarter. 89.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Mary Ann Wright sold 560 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $46.29, for a total value of $25,922.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Vivek Jain sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was 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. Insiders sold 136,443 shares of company stock worth $6,266,251 in the last quarter. 1.11% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.76%. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 70.24%.
Maxim Integrated Products declared that its board has approved a share buyback plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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