Analysts expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to announce sales of $539.98 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Maxim Integrated Products’ earnings, with the highest sales estimate coming in at $540.40 million and the lowest estimate coming in at $539.70 million. Maxim Integrated Products posted sales of $648.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The company is expected to announce its next 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 fiscal year, with estimates ranging from $2.31 billion to $2.36 billion. For the next fiscal year, analysts expect that the company will post sales of $2.44 billion, with estimates ranging from $2.34 billion to $2.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Tuesday, January 29th. The semiconductor company reported $0.60 EPS 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 business had revenue of $576.91 million for the quarter, compared to analyst estimates of $590.50 million.
MXIM has been the subject of a number of analyst reports. Evercore ISI lowered their target price on shares of Maxim Integrated Products from $60.00 to $55.00 in a report on Monday, January 14th. BidaskClub lowered shares of Maxim Integrated Products from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Cowen initiated coverage on shares of Maxim Integrated Products in a report on Friday, February 22nd. They set a “market perform” rating and a $56.00 target price for the company. Morgan Stanley lowered their target price on shares of Maxim Integrated Products from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, December 19th. Finally, Zacks Investment Research raised shares of Maxim Integrated Products from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $59.67.
In other news, CFO Bruce E. Kiddoo sold 8,062 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $55.60, for a total value of $448,247.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Wright sold 1,564 shares of the business’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $51.68, for a total transaction of $80,827.52. The disclosure for this sale can be found here. Insiders sold a total of 50,380 shares of company stock valued at $2,771,301 in the last three months. 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. Liberty Wealth Management LLC bought a new stake in Maxim Integrated Products in the 4th quarter valued at $489,000. Machina Capital S.A.S. bought a new stake in Maxim Integrated Products in the 4th quarter valued at $341,000. Sowell Financial Services LLC lifted its position in Maxim Integrated Products by 11.1% in the 4th quarter. Sowell Financial Services LLC now owns 6,746 shares of the semiconductor company’s stock valued at $343,000 after acquiring an additional 676 shares in the last quarter. Fulcrum Equity Management bought a new stake in Maxim Integrated Products in the 4th quarter valued at $219,000. Finally, Norges Bank bought a new stake in Maxim Integrated Products during the 4th quarter worth about $142,906,000. 98.56% of the stock is currently owned by institutional investors and hedge funds.
MXIM traded down $0.38 during trading on Thursday, reaching $52.73. 1,103,600 shares of the company’s stock were exchanged, compared to its average volume of 2,191,452. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.85 and a current ratio of 6.54. Maxim Integrated Products has a fifty-two week low of $46.64 and a fifty-two week high of $63.68. The firm has a market capitalization of $14.86 billion, a PE ratio of 19.46, a P/E/G ratio of 1.90 and a beta of 1.32.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 28th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Wednesday, February 27th. Maxim Integrated Products’s dividend payout ratio (DPR) is 67.90%.
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.
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