Zacks: Analysts Expect Maxim Integrated Products Inc. (MXIM) to Announce $0.69 EPS

Wall Street brokerages expect Maxim Integrated Products Inc. (NASDAQ:MXIM) to report earnings of $0.69 per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Maxim Integrated Products’ earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.66. Maxim Integrated Products reported earnings of $0.56 per share in the same quarter last year, which indicates a positive year over year growth rate of 23.2%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that Maxim Integrated Products will report full year earnings of $2.64 per share for the current fiscal year, with EPS estimates ranging from $2.57 to $2.70. For the next year, analysts forecast that the company will post earnings of $2.89 per share, with EPS estimates ranging from $2.66 to $3.04. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Maxim Integrated Products.

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Maxim Integrated Products (NASDAQ:MXIM) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The business had revenue of $623.00 million for the quarter, compared to analyst estimates of $620.46 million. Maxim Integrated Products had a return on equity of 32.59% and a net margin of 16.08%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share.

MXIM has been the topic of several recent research reports. Stifel Nicolaus increased their price target on Maxim Integrated Products from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Drexel Hamilton reiterated a “buy” rating and issued a $63.00 price target (up previously from $60.00) on shares of Maxim Integrated Products in a report on Friday, January 26th. ValuEngine upgraded Maxim Integrated Products from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Morgan Stanley upgraded Maxim Integrated Products from an “underweight” rating to an “equal” rating and set a $44.00 price target on the stock in a report on Tuesday, January 30th. Finally, Barclays increased their price target on Maxim Integrated Products from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Maxim Integrated Products currently has an average rating of “Hold” and an average target price of $54.86.

In related news, CEO Tunc Doluca sold 29,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $58.29, for a total transaction of $1,690,410.00. Following the completion of the sale, the chief executive officer now directly owns 147,052 shares of the company’s stock, valued at $8,571,661.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce E. Kiddoo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. The disclosure for this sale can be found here. Insiders have sold 247,428 shares of company stock valued at $15,004,988 over the last ninety days. 1.11% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund increased its position in Maxim Integrated Products by 1.6% in the third quarter. New York State Common Retirement Fund now owns 612,400 shares of the semiconductor company’s stock worth $29,218,000 after buying an additional 9,500 shares during the last quarter. Russell Investments Group Ltd. increased its position in Maxim Integrated Products by 20.5% in the third quarter. Russell Investments Group Ltd. now owns 73,347 shares of the semiconductor company’s stock worth $3,499,000 after buying an additional 12,469 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Maxim Integrated Products by 1.7% in the third quarter. Great West Life Assurance Co. Can now owns 175,652 shares of the semiconductor company’s stock worth $8,357,000 after buying an additional 2,943 shares during the last quarter. Legal & General Group Plc increased its position in Maxim Integrated Products by 3.7% in the third quarter. Legal & General Group Plc now owns 1,445,058 shares of the semiconductor company’s stock worth $68,943,000 after buying an additional 51,163 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Maxim Integrated Products in the third quarter worth $404,000. 90.65% of the stock is owned by institutional investors.

NASDAQ:MXIM traded down $1.05 on Monday, hitting $56.81. The stock had a trading volume of 5,314,012 shares, compared to its average volume of 2,587,242. The firm has a market cap of $16,271.04, a P/E ratio of 26.80, a PEG ratio of 2.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.14 and a current ratio of 4.48. Maxim Integrated Products has a 52 week low of $43.35 and a 52 week high of $74.94.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Maxim Integrated Products’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, February 28th. Maxim Integrated Products’s dividend payout ratio (DPR) is presently 79.25%.

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About Maxim Integrated Products

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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