Analysts expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to post earnings of $0.75 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Maxim Integrated Products’ earnings, with estimates ranging from $0.75 to $0.76. Maxim Integrated Products posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 18th.
According to Zacks, analysts expect that Maxim Integrated Products will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $3.02 to $3.17. For the next fiscal year, analysts forecast that the business will post earnings of $3.34 per share, with EPS estimates ranging from $3.26 to $3.45. Zacks Investment Research’s earnings per share calculations 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 Thursday, July 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The firm had revenue of $633.10 million during the quarter, compared to analyst estimates of $630.39 million. Maxim Integrated Products had a net margin of 18.84% and a return on equity of 38.37%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS.
Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Maxim Integrated Products from $55.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, July 27th. Zacks Investment Research lowered shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Maxim Group restated a “hold” rating on shares of Maxim Integrated Products in a report on Friday, July 27th. BidaskClub lowered shares of Maxim Integrated Products from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Finally, MKM Partners raised their target price on shares of Maxim Integrated Products to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Fifteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Maxim Integrated Products currently has an average rating of “Hold” and a consensus target price of $61.06.
Shares of Maxim Integrated Products stock traded down $0.06 during trading on Friday, hitting $59.52. The stock had a trading volume of 113,487 shares, compared to its average volume of 2,048,235. The firm has a market capitalization of $16.16 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51. Maxim Integrated Products has a 12 month low of $45.97 and a 12 month high of $74.94.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, August 29th. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.42. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 67.90%.
In related news, VP Christopher J. Neil sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $58.48, for a total value of $204,680.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David Loftus sold 6,623 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $60.01, for a total transaction of $397,446.23. The disclosure for this sale can be found here. Insiders sold a total of 56,379 shares of company stock worth $3,473,981 in the last ninety days. 1.11% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Royal London Asset Management Ltd. purchased a new position in Maxim Integrated Products in the 2nd quarter worth about $6,850,000. HRT Financial LLC purchased a new position in Maxim Integrated Products during the 2nd quarter valued at about $729,000. Schroder Investment Management Group increased its position in Maxim Integrated Products by 7.0% during the 2nd quarter. Schroder Investment Management Group now owns 984,267 shares of the semiconductor company’s stock valued at $57,343,000 after purchasing an additional 64,505 shares during the period. Global X Management Co LLC increased its position in Maxim Integrated Products by 168.9% during the 2nd quarter. Global X Management Co LLC now owns 15,435 shares of the semiconductor company’s stock valued at $905,000 after purchasing an additional 9,694 shares during the period. Finally, Verition Fund Management LLC increased its position in Maxim Integrated Products by 83.1% during the 2nd quarter. Verition Fund Management LLC now owns 19,305 shares of the semiconductor company’s stock valued at $1,132,000 after purchasing an additional 8,762 shares during the period. 90.69% of the stock is currently owned by institutional investors.
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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