Brokerages Expect Maxim Integrated Products Inc. (MXIM) Will Post Quarterly Sales of $590.44 Million

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Brokerages forecast that Maxim Integrated Products Inc. (NASDAQ:MXIM) will report sales of $590.44 million for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Maxim Integrated Products’ earnings, with the highest sales estimate coming in at $592.20 million and the lowest estimate coming in at $590.00 million. Maxim Integrated Products reported sales of $622.64 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5.2%. The business is scheduled to report its next earnings results on Thursday, January 24th.

According to Zacks, analysts expect that Maxim Integrated Products will report full year sales of $2.44 billion for the current financial year, with estimates ranging from $2.36 billion to $2.48 billion. For the next year, analysts expect that the business will report sales of $2.55 billion, with estimates ranging from $2.46 billion to $2.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Maxim Integrated Products.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. The business had revenue of $638.50 million during the quarter, compared to analyst estimates of $635.19 million. During the same quarter in the previous year, the business earned $0.60 EPS. Maxim Integrated Products’s quarterly revenue was up 10.9% compared to the same quarter last year.

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Maxim Integrated Products from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 31st. Jefferies Financial Group reduced their price objective on shares of Maxim Integrated Products from $68.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. SunTrust Banks reduced their price objective on shares of Maxim Integrated Products to $51.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Loop Capital reduced their price objective on shares of Maxim Integrated Products to $59.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Finally, Citigroup reduced their price objective on shares of Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Maxim Integrated Products currently has a consensus rating of “Hold” and a consensus target price of $60.76.

In other Maxim Integrated Products news, VP Sumeet Gagneja sold 471 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $60.74, for a total transaction of $28,608.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan Preeshl sold 1,371 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $62.09, for a total transaction of $85,125.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,905 shares of company stock valued at $1,116,669. Company insiders own 0.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Investment Partners LTD. acquired a new position in Maxim Integrated Products during the 3rd quarter worth $314,000. Kiley Juergens Wealth Management LLC acquired a new position in Maxim Integrated Products during the 2nd quarter worth $117,000. Capital Advisors Ltd. LLC acquired a new position in Maxim Integrated Products during the 3rd quarter worth $114,000. Legacy Advisors LLC acquired a new position in Maxim Integrated Products during the 3rd quarter worth $116,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Maxim Integrated Products by 91.2% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 989 shares during the period. 90.73% of the stock is owned by hedge funds and other institutional investors.

Shares of MXIM stock traded down $1.13 on Friday, hitting $52.09. The company’s stock had a trading volume of 5,706,060 shares, compared to its average volume of 3,498,099. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52. Maxim Integrated Products has a fifty-two week low of $46.85 and a fifty-two week high of $74.94. The firm has a market cap of $14.58 billion, a PE ratio of 19.22, a PEG ratio of 1.67 and a beta of 1.28.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, November 28th. Maxim Integrated Products’s dividend payout ratio 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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