Wall Street analysts predict that Maxim Integrated Products Inc. (NASDAQ:MXIM) will post sales of $539.98 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Maxim Integrated Products’ earnings. The highest sales estimate is $540.40 million and the lowest is $539.70 million. Maxim Integrated Products posted sales of $648.60 million in the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The business is scheduled to report its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Maxim Integrated Products will report full year sales of $2.33 billion for the current financial year, with estimates ranging from $2.31 billion to $2.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.44 billion, with estimates ranging from $2.34 billion to $2.56 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Maxim Integrated Products had a return on equity of 42.09% and a net margin of 28.72%. The firm had revenue of $576.91 million for the quarter, compared to analyst estimates of $590.50 million.
A number of equities research analysts have recently issued reports on the company. Deutsche Bank dropped their price objective on Maxim Integrated Products from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Zacks Investment Research upgraded Maxim Integrated Products from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Barclays dropped their price objective on Maxim Integrated Products from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 23rd. Maxim Group reiterated a “sell” rating on shares of Maxim Integrated Products in a research note on Friday. Finally, Citigroup dropped their price objective on Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $60.20.
In related news, VP Sumeet Gagneja sold 517 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $56.72, for a total value of $29,324.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tunc Doluca sold 2,500 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $55.79, for a total value of $139,475.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,445 shares of company stock worth $3,877,229. 0.85% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Tennessee Treasury Department acquired a new position in Maxim Integrated Products in the 4th quarter valued at $3,651,000. Raymond James Financial Services Advisors Inc. grew its holdings in Maxim Integrated Products by 16.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 82,928 shares of the semiconductor company’s stock valued at $4,217,000 after buying an additional 12,000 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new position in Maxim Integrated Products in the 4th quarter valued at $359,000. Bank of Nova Scotia acquired a new position in Maxim Integrated Products in the 4th quarter valued at $3,058,000. Finally, Sentry Investment Management LLC acquired a new position in Maxim Integrated Products in the 4th quarter valued at $928,000. Institutional investors and hedge funds own 94.22% of the company’s stock.
NASDAQ:MXIM traded down $0.03 during trading hours on Monday, reaching $54.69. 946,200 shares of the stock were exchanged, compared to its average volume of 2,494,032. Maxim Integrated Products has a twelve month low of $46.64 and a twelve month high of $64.40. The company has a quick ratio of 5.85, a current ratio of 6.54 and a debt-to-equity ratio of 0.57. The company has a market cap of $14.96 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.91 and a beta of 1.35.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 28th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Wednesday, February 27th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 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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