Zacks: Brokerages Expect Maxim Integrated Products, Inc. (MXIM) Will Post Quarterly Sales of $619.90 Million
Analysts expect that Maxim Integrated Products, Inc. (NASDAQ:MXIM) will post sales of $619.90 million for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Maxim Integrated Products’ earnings, with estimates ranging from $619.50 million to $620.00 million. Maxim Integrated Products reported sales of $551.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, January 25th.
On average, analysts expect that Maxim Integrated Products will report full-year sales of $619.90 million for the current year, with estimates ranging from $2.37 billion to $2.48 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.51 billion per share, with estimates ranging from $2.40 billion to $2.56 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last announced its earnings results on Thursday, October 19th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Maxim Integrated Products had a return on equity of 29.55% and a net margin of 25.48%. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $576.80 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year.
In related news, Director William D. Watkins sold 19,650 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $51.49, for a total value of $1,011,778.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Vivek Jain sold 6,793 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $52.18, for a total value of $354,458.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,819 shares of company stock worth $12,093,336. Insiders own 1.11% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MXIM. Bank of New York Mellon Corp increased its position in shares of Maxim Integrated Products by 29.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 13,758,325 shares of the semiconductor company’s stock valued at $656,409,000 after acquiring an additional 3,164,871 shares during the period. BlackRock Inc. boosted its holdings in Maxim Integrated Products by 13.4% in the second quarter. BlackRock Inc. now owns 19,941,814 shares of the semiconductor company’s stock valued at $895,388,000 after purchasing an additional 2,358,743 shares during the last quarter. American Century Companies Inc. boosted its holdings in Maxim Integrated Products by 17.2% in the third quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after purchasing an additional 2,087,911 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in Maxim Integrated Products in the second quarter valued at $73,792,000. Finally, Janus Henderson Group PLC boosted its holdings in Maxim Integrated Products by 1,961.5% in the third quarter. Janus Henderson Group PLC now owns 1,057,761 shares of the semiconductor company’s stock valued at $50,471,000 after purchasing an additional 1,006,451 shares during the last quarter. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Maxim Integrated Products (NASDAQ:MXIM) traded down $0.21 during trading hours on Tuesday, hitting $53.82. The company’s stock had a trading volume of 1,703,710 shares, compared to its average volume of 2,197,752. Maxim Integrated Products has a fifty-two week low of $39.75 and a fifty-two week high of $55.43. The stock has a market capitalization of $15,150.00, a price-to-earnings ratio of 26.25, a PEG ratio of 2.10 and a beta of 1.10. The company has a quick ratio of 13.09, a current ratio of 14.14 and a debt-to-equity ratio of 0.68.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, November 29th. Maxim Integrated Products’s payout ratio is presently 70.24%.
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Maxim Integrated Products Company Profile
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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