Brokerages expect that Maxim Integrated Products, Inc. (NASDAQ:MXIM) will post $687.72 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for Maxim Integrated Products’ earnings, with estimates ranging from $676.00 million to $712.00 million. Maxim Integrated Products posted sales of $545.37 million in the same quarter last year, which suggests a positive year over year growth rate of 26.1%. The company is expected to issue its next earnings report on Tuesday, July 27th.
According to Zacks, analysts expect that Maxim Integrated Products will report full-year sales of $2.60 billion for the current financial year, with estimates ranging from $2.58 billion to $2.63 billion. For the next financial year, analysts expect that the company will post sales of $2.82 billion, with estimates ranging from $2.75 billion to $2.90 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last posted its quarterly earnings results on Tuesday, April 27th. The semiconductor company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The business had revenue of $665.03 million during the quarter, compared to analyst estimates of $638.48 million. Maxim Integrated Products had a net margin of 31.77% and a return on equity of 41.37%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share.
Several equities analysts have recently commented on MXIM shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Maxim Integrated Products from $100.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on shares of Maxim Integrated Products from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Zacks Investment Research downgraded shares of Maxim Integrated Products from a “buy” rating to a “hold” rating and set a $101.00 price objective for the company. in a research note on Tuesday, February 16th. Finally, Royal Bank of Canada increased their price target on shares of Maxim Integrated Products from $73.00 to $97.00 in a research note on Wednesday, January 27th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Maxim Integrated Products has an average rating of “Hold” and an average target price of $83.92.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 3,450 shares of the company’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $95.00, for a total value of $327,750.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 41,200 shares of company stock worth $3,953,900. Corporate insiders own 0.57% of the company’s stock.
Several large investors have recently bought and sold shares of MXIM. Kestra Advisory Services LLC grew its holdings in shares of Maxim Integrated Products by 5,082.7% during the fourth quarter. Kestra Advisory Services LLC now owns 3,887 shares of the semiconductor company’s stock valued at $340,000 after buying an additional 3,812 shares during the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of Maxim Integrated Products by 41.0% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 197,664 shares of the semiconductor company’s stock valued at $17,524,000 after buying an additional 57,444 shares during the last quarter. Newfound Research LLC grew its holdings in shares of Maxim Integrated Products by 219.1% during the fourth quarter. Newfound Research LLC now owns 1,624 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 1,115 shares during the last quarter. Sawgrass Asset Management LLC purchased a new stake in shares of Maxim Integrated Products during the fourth quarter valued at approximately $219,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Maxim Integrated Products during the fourth quarter valued at approximately $139,000. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Shares of NASDAQ:MXIM traded up $1.12 during midday trading on Friday, hitting $102.19. 21,888 shares of the stock traded hands, compared to its average volume of 3,054,966. The stock has a market capitalization of $27.42 billion, a PE ratio of 34.97, a P/E/G ratio of 3.22 and a beta of 1.20. The business’s 50 day moving average is $95.10 and its two-hundred day moving average is $90.62. The company has a quick ratio of 4.93, a current ratio of 5.38 and a debt-to-equity ratio of 0.46. Maxim Integrated Products has a one year low of $55.93 and a one year high of $102.31.
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, rest of Asia, Europe, and internationally. The company also provides various high-frequency process technologies and capabilities used in custom designs.
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