Wall Street brokerages expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to post sales of $634.98 million for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Maxim Integrated Products’ earnings, with the lowest sales estimate coming in at $634.10 million and the highest estimate coming in at $635.80 million. Maxim Integrated Products reported sales of $575.68 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 30th.
On average, analysts expect that Maxim Integrated Products will report full-year sales of $2.59 billion for the current financial year, with estimates ranging from $2.52 billion to $2.64 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.69 billion, with estimates ranging from $2.53 billion to $2.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Maxim Integrated Products had a net margin of 18.84% and a return on equity of 37.83%. The company had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $630.39 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue was up 5.2% on a year-over-year basis.
MXIM has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of Maxim Integrated Products from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Loop Capital initiated coverage on shares of Maxim Integrated Products in a report on Friday, June 22nd. They issued a “buy” rating and a $70.00 target price on the stock. BidaskClub upgraded shares of Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Morgan Stanley lowered their target price on shares of Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 3rd. Finally, Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Maxim Integrated Products has a consensus rating of “Hold” and an average price target of $61.89.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 5,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $56.80, for a total value of $284,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $63.00, for a total transaction of $1,575,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,879 shares of company stock valued at $3,553,301. Company insiders own 1.11% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Maxim Integrated Products during the 1st quarter worth approximately $106,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Maxim Integrated Products during the 2nd quarter worth approximately $117,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Maxim Integrated Products during the 1st quarter worth approximately $205,000. Hilltop Holdings Inc. purchased a new stake in shares of Maxim Integrated Products during the 1st quarter worth approximately $218,000. Finally, Financial Gravity Wealth Inc. purchased a new stake in shares of Maxim Integrated Products during the 1st quarter worth approximately $236,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Shares of MXIM traded up $0.28 on Wednesday, reaching $51.80. The company’s stock had a trading volume of 2,102,218 shares, compared to its average volume of 2,463,884. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.03 and a quick ratio of 3.67. Maxim Integrated Products has a twelve month low of $49.14 and a twelve month high of $74.94. The firm has a market capitalization of $15.68 billion, a PE ratio of 19.11, a P/E/G ratio of 1.56 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were paid a $0.46 dividend. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $1.84 annualized dividend and a yield of 3.55%. Maxim Integrated Products’s dividend payout ratio (DPR) is 67.90%.
Maxim Integrated Products Company Profile
Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
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