Brokerages expect that Maxim Integrated Products Inc. (NASDAQ:MXIM) will report $560.17 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Maxim Integrated Products’ earnings, with the lowest sales estimate coming in at $559.80 million and the highest estimate coming in at $561.70 million. Maxim Integrated Products reported sales of $633.15 million during the same quarter last year, which would indicate a negative year over year growth rate of 11.5%. The business is expected to announce its next earnings report after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Maxim Integrated Products will report full-year sales of $2.32 billion for the current year, with estimates ranging from $2.31 billion to $2.32 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.39 billion, with estimates ranging from $2.33 billion to $2.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Maxim Integrated Products.
Maxim Integrated Products (NASDAQ:MXIM) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. Maxim Integrated Products had a return on equity of 40.16% and a net margin of 27.36%. The business had revenue of $542.38 million during the quarter, compared to the consensus estimate of $540.17 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was down 16.4% on a year-over-year basis.
A number of equities analysts have weighed in on MXIM shares. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Deutsche Bank cut shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 price objective on the stock. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Cowen reaffirmed a “hold” rating and issued a $103.00 price objective on shares of United Therapeutics in a research note on Wednesday, May 1st. MKM Partners raised their price objective on shares of Advanced Micro Devices to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada set a €145.00 ($168.60) price objective on shares of Aena SME and gave the company a “sell” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $61.50.
Maxim Integrated Products stock traded down $0.08 during mid-day trading on Friday, reaching $62.08. The stock had a trading volume of 1,039,436 shares, compared to its average volume of 1,367,653. The firm has a market cap of $16.97 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.42. The company’s 50-day moving average price is $58.55. Maxim Integrated Products has a one year low of $46.64 and a one year high of $63.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 6.46 and a quick ratio of 5.77.
In other news, CEO Tunc Doluca sold 7,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $61.16, for a total value of $428,120.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Bruce E. Kiddoo sold 5,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $58.52, for a total value of $292,600.00. The disclosure for this sale can be found here. Insiders sold a total of 40,246 shares of company stock valued at $2,403,413 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Davy Asset Management Ltd acquired a new position in Maxim Integrated Products in the second quarter worth about $254,000. Robeco Institutional Asset Management B.V. boosted its stake in Maxim Integrated Products by 69.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 383,877 shares of the semiconductor company’s stock worth $22,961,000 after buying an additional 157,799 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Maxim Integrated Products by 47.7% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,718 shares of the semiconductor company’s stock worth $222,000 after buying an additional 1,200 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its stake in Maxim Integrated Products by 1.0% during the second quarter. Hamilton Point Investment Advisors LLC now owns 39,018 shares of the semiconductor company’s stock worth $2,334,000 after buying an additional 375 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new position in Maxim Integrated Products during the second quarter worth $814,000. 93.56% 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.
Recommended Story: How Do Investors Open a Backdoor Roth IRA?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Maxim Integrated Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Maxim Integrated Products and related companies with MarketBeat.com's FREE daily email newsletter.