Equities analysts expect that Maxim Integrated Products Inc. (NASDAQ:MXIM) will post $0.62 earnings per share for the current quarter, Zacks reports. Eight analysts have made estimates for Maxim Integrated Products’ earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.61. Maxim Integrated Products reported earnings per share of $0.65 in the same quarter last year, which suggests a negative year-over-year growth rate of 4.6%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, January 29th.
According to Zacks, analysts expect that Maxim Integrated Products will report full year earnings of $2.68 per share for the current fiscal year, with EPS estimates ranging from $2.54 to $2.77. For the next year, analysts anticipate that the company will report earnings of $2.90 per share, with EPS estimates ranging from $2.70 to $3.13. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. The business had revenue of $638.50 million for the quarter, compared to analysts’ expectations of $635.19 million. Maxim Integrated Products had a net margin of 20.06% and a return on equity of 41.83%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Maxim Integrated Products from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Morgan Stanley cut their price target on shares of Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 3rd. KeyCorp assumed coverage on shares of Maxim Integrated Products in a research report on Tuesday, September 25th. They set a “sector weight” rating and a $68.00 price target on the stock. Bank of America cut shares of Maxim Integrated Products from a “buy” rating to a “neutral” rating in a research report on Friday, January 4th. Finally, Citigroup cut their price target on shares of Maxim Integrated Products from $61.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.39.
In related news, VP Sumeet Gagneja sold 517 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $56.72, for a total value of $29,324.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $55.79, for a total transaction of $139,475.00. The disclosure for this sale can be found here. Insiders have sold a total of 43,671 shares of company stock worth $2,448,005 in the last three months. Insiders own 0.85% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. IMS Capital Management bought a new position in Maxim Integrated Products in the 3rd quarter valued at about $28,000. TCI Wealth Advisors Inc. lifted its position in Maxim Integrated Products by 311.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 766 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 580 shares in the last quarter. Capital Advisors Ltd. LLC bought a new position in Maxim Integrated Products in the 3rd quarter valued at about $114,000. Legacy Advisors LLC bought a new position in Maxim Integrated Products in the 3rd quarter valued at about $116,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Maxim Integrated Products by 91.2% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,073 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 989 shares in the last quarter. 91.73% of the stock is currently owned by institutional investors and hedge funds.
MXIM traded up $0.65 during trading on Thursday, reaching $52.71. 1,748,700 shares of the stock traded hands, compared to its average volume of 2,493,483. The company has a current ratio of 3.57, a quick ratio of 3.27 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.32 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.31. Maxim Integrated Products has a 12 month low of $46.64 and a 12 month high of $74.94.
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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