Brokerages Expect Maxim Integrated Products Inc. (MXIM) Will Post Quarterly Sales of $640.58 Million
Brokerages forecast that Maxim Integrated Products Inc. (NASDAQ:MXIM) will report $640.58 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Maxim Integrated Products’ earnings, with the highest sales estimate coming in at $644.90 million and the lowest estimate coming in at $640.00 million. Maxim Integrated Products reported sales of $581.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Maxim Integrated Products will report full year sales of $640.58 million for the current fiscal year, with estimates ranging from $2.46 billion to $2.50 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.62 billion per share, with estimates ranging from $2.50 billion to $2.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last released its earnings results on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.65. The company had revenue of $623.00 million during the quarter, compared to the consensus estimate of $620.46 million. Maxim Integrated Products had a return on equity of 32.59% and a net margin of 16.08%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share.
In related news, VP David Loftus sold 9,084 shares of Maxim Integrated Products stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $61.42, for a total transaction of $557,939.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tunc Doluca sold 2,000 shares of Maxim Integrated Products stock in a transaction on Monday, December 18th. The stock was sold at an average price of $53.00, for a total value of $106,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 229,840 shares of company stock valued at $13,617,769. 1.11% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Maxim Integrated Products by 11.0% in the fourth quarter. BlackRock Inc. now owns 21,341,356 shares of the semiconductor company’s stock valued at $1,115,726,000 after acquiring an additional 2,108,322 shares during the period. American Century Companies Inc. grew its stake in Maxim Integrated Products by 17.2% in the third quarter. American Century Companies Inc. now owns 14,214,823 shares of the semiconductor company’s stock valued at $678,189,000 after acquiring an additional 2,087,911 shares during the period. Bank of New York Mellon Corp grew its stake in Maxim Integrated Products by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 14,143,312 shares of the semiconductor company’s stock valued at $739,411,000 after acquiring an additional 384,987 shares during the period. Ameriprise Financial Inc. grew its stake in Maxim Integrated Products by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 10,144,296 shares of the semiconductor company’s stock valued at $484,652,000 after acquiring an additional 319,169 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Maxim Integrated Products by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,766,421 shares of the semiconductor company’s stock valued at $353,748,000 after acquiring an additional 196,139 shares during the period.
Maxim Integrated Products (MXIM) traded up $0.33 during mid-day trading on Wednesday, hitting $61.23. The stock had a trading volume of 1,690,569 shares, compared to its average volume of 2,652,209. The company has a market capitalization of $13,289.23, a P/E ratio of 46.04, a P/E/G ratio of 2.25 and a beta of 1.14. Maxim Integrated Products has a 12 month low of $43.35 and a 12 month high of $74.94. The company has a current ratio of 4.48, a quick ratio of 4.14 and a debt-to-equity ratio of 0.50.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This is a boost from Maxim Integrated Products’s previous quarterly dividend of $0.36. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.74%. Maxim Integrated Products’s payout ratio is 126.32%.
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Maxim Integrated Products Company Profile
Maxim Integrated Products, Inc is engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits. The Company also provides a range of high-frequency process technologies and capabilities for use in custom designs. The Company caters to automotive, communications and data center, computing, consumer and industrial markets.
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