$0.75 Earnings Per Share Expected for Maxim Integrated Products Inc. (MXIM) This Quarter

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Analysts expect that Maxim Integrated Products Inc. (NASDAQ:MXIM) will report $0.75 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Maxim Integrated Products’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.76. Maxim Integrated Products reported earnings of $0.60 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is expected to announce its next quarterly earnings results after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Maxim Integrated Products will report full year earnings of $3.05 per share for the current fiscal year, with EPS estimates ranging from $2.83 to $3.17. For the next financial year, analysts forecast that the business will report earnings of $3.22 per share, with EPS estimates ranging from $2.82 to $3.45. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Maxim Integrated Products.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $633.10 million during the quarter, compared to the consensus estimate of $630.39 million. Maxim Integrated Products had a return on equity of 37.83% and a net margin of 18.84%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS.

A number of research firms recently commented on MXIM. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley dropped their price objective on Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 3rd. KeyCorp began coverage on Maxim Integrated Products in a research report on Tuesday, September 25th. They set a “sector weight” rating and a $68.00 price objective for the company. Finally, Stifel Nicolaus cut Maxim Integrated Products from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $65.00 in a research report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.89.

Maxim Integrated Products stock traded up $0.28 during midday trading on Monday, reaching $51.80. 2,102,218 shares of the company were exchanged, compared to its average volume of 2,463,884. The stock has a market cap of $15.68 billion, a PE ratio of 19.11, a P/E/G ratio of 1.56 and a beta of 1.19. Maxim Integrated Products has a 1 year low of $49.14 and a 1 year high of $74.94. The company has a current ratio of 4.03, a quick ratio of 3.67 and a debt-to-equity ratio of 0.51.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were issued a $0.46 dividend. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, August 29th. This represents a $1.84 annualized dividend and a yield of 3.55%. Maxim Integrated Products’s payout ratio is 67.90%.

In other news, CEO Tunc Doluca sold 5,000 shares of Maxim Integrated Products stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $56.80, for a total value of $284,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Vivek Jain sold 10,474 shares of Maxim Integrated Products stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $61.87, for a total value of $648,026.38. The disclosure for this sale can be found here. Insiders sold a total of 57,879 shares of company stock valued at $3,553,301 in the last 90 days. 1.11% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY lifted its stake in shares of Maxim Integrated Products by 4.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 21,933 shares of the semiconductor company’s stock valued at $1,287,000 after purchasing an additional 902 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Maxim Integrated Products by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 243,584 shares of the semiconductor company’s stock valued at $14,289,000 after purchasing an additional 913 shares in the last quarter. Argent Trust Co lifted its stake in shares of Maxim Integrated Products by 27.3% in the 2nd quarter. Argent Trust Co now owns 4,745 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 1,019 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Maxim Integrated Products by 1.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 69,128 shares of the semiconductor company’s stock valued at $4,055,000 after purchasing an additional 1,226 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Maxim Integrated Products by 5.3% in the 2nd quarter. CIBC Asset Management Inc now owns 24,838 shares of the semiconductor company’s stock valued at $1,457,000 after purchasing an additional 1,248 shares in the last quarter. 90.72% of the stock is currently owned by institutional investors and hedge funds.

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

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