Maxim Integrated Products Inc. (MXIM) Expected to Announce Earnings of $0.52 Per Share

Analysts expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to announce $0.52 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Maxim Integrated Products’ earnings, with estimates ranging from $0.51 to $0.52. Maxim Integrated Products reported earnings of $0.73 per share during the same quarter last year, which would indicate a negative year over year growth rate of 28.8%. The firm is expected to issue its next earnings results after the market closes on Tuesday, April 30th.

On average, analysts expect that Maxim Integrated Products will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.40 to $2.47. For the next fiscal year, analysts forecast that the company will post earnings of $2.65 per share, with EPS estimates ranging from $2.42 to $2.84. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Maxim Integrated Products.

Maxim Integrated Products (NASDAQ:MXIM) last issued its earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $576.91 million during the quarter, compared to the consensus estimate of $590.50 million. Maxim Integrated Products had a net margin of 28.72% and a return on equity of 42.09%.

A number of brokerages have recently issued reports on MXIM. Zacks Investment Research raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. BidaskClub raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Maxim Group reaffirmed a “sell” rating on shares of Maxim Integrated Products in a report on Friday, February 8th. Finally, Morgan Stanley dropped their target price on shares of Maxim Integrated Products from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $59.67.

Shares of MXIM stock traded down $0.17 on Thursday, reaching $57.97. The stock had a trading volume of 787,760 shares, compared to its average volume of 2,091,818. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.85 and a current ratio of 6.54. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.00 and a beta of 1.31. Maxim Integrated Products has a 12 month low of $46.64 and a 12 month high of $63.68.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 28th were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.84 annualized dividend and a yield of 3.17%. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.

In related news, CFO Bruce E. Kiddoo sold 8,062 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $55.60, for a total transaction of $448,247.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Tunc Doluca sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $57.00, for a total transaction of $570,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,880 shares of company stock worth $3,476,301. Insiders own 0.85% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MXIM. IMS Capital Management bought a new position in Maxim Integrated Products in the 3rd quarter valued at approximately $28,000. CWM LLC raised its position in Maxim Integrated Products by 78.0% in the fourth quarter. CWM LLC now owns 598 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 262 shares during the period. TCI Wealth Advisors Inc. raised its position in Maxim Integrated Products by 311.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 766 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 580 shares during the period. Sun Life Financial INC bought a new stake in Maxim Integrated Products in the fourth quarter worth about $39,000. Finally, Guardian Life Insurance Co. of America bought a new stake in Maxim Integrated Products in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 98.56% of the company’s stock.

About Maxim Integrated Products

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.

See Also: Rule of 72

Get a free copy of the Zacks research report on Maxim Integrated Products (MXIM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Maxim Integrated Products (NASDAQ:MXIM)

Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.