Maxim Integrated Products, Inc. (MXIM) - NASDAQ
  • Thu, Jul. 21, 4:03 PM
    • Maxim Integrated Products (NASDAQ:MXIM): FQ4 EPS of $0.49 beats by $0.01.
    • Revenue of $566.13M (-2.8% Y/Y) misses by $9.35M.
    • Shares -1.3%.
    • Press Release
    | Thu, Jul. 21, 4:03 PM
  • Wed, Jul. 20, 5:35 PM
    | Wed, Jul. 20, 5:35 PM | 13 Comments
  • Thu, Apr. 21, 4:04 PM
    • Maxim Integrated Products (NASDAQ:MXIM): FQ3 EPS of $0.41 misses by $0.01.
    • Revenue of $555.25M (-3.8% Y/Y) in-line.
    • Press Release
    | Thu, Apr. 21, 4:04 PM
  • Wed, Apr. 20, 5:35 PM
    | Wed, Apr. 20, 5:35 PM | 22 Comments
  • Tue, Apr. 19, 10:50 AM
    • Amid a weak market in both PCs and handsets, Citigroup is expressing caution on semiconductor stocks that it says could decline 20% in the next few months, while still seeing glimmers of light.
    • The automotive end market should be strongest, analyst Christopher Danely says, leading him to sector favorites Microchip Technology (MCHP +0.1%) and ON Semiconductor (ON +0.5%), along with Linear Technology (LLTC -0.6%) -- each of which has a heavy component of sales in automotive (in ON Semi's case, 33% of calendar-year sales).
    • Ahead of today's earnings, Intel (INTC -0.1%) gets a note of caution. Citi's Jim Suva says PCs will decline 6% this year, worse than Intel's forecast.
    • Meanwhile, strong Samsung shipments are good for Maxim Integrated Products (MXIM -1.1%), but an overall weak handset market plays to Apple's supply chain. Together, PCs and handsets make up some 50% of the semicondutor market.
    • Now read Intel Looks Vulnerable »
    | Tue, Apr. 19, 10:50 AM
  • Thu, Jan. 21, 4:43 PM
    • Though it beat FQ2 sales estimates and posted in-line EPS, Maxim (NASDAQ:MXIM) is guiding for FQ3 revenue of $535M-$575M and EPS of $0.38-$0.44 (midpoints of $555M and $0.41) vs. a consensus of $568.5M and $0.46. But with shares having gone into earnings less than $2 above a 52-week low of $29.47, markets are giving the company a pass for now.
    • CEO Tunc Doluca: "Our second quarter financial performance was in line with our expectations, and we achieved several milestones in our $180 million cost reduction plan. In our March quarter, we expect continued growth in Automotive, a sequential increase in our Communications & Data Center and Consumer businesses and a seasonal uptick in Industrial." Samsung-related weakness has often been a headwind for Maxim over the last two years - the Galaxy S7 is expected to be unveiled at the Mobile World Congress (runs from Feb. 22-25).
    • Financials: Weighing on FQ2 EPS: Non-GAAP gross margin was 60.5%, -110 bps Q/Q and +20 bps Y/Y, and towards the low end of a 60%-63% guidance range. FQ3 GM guidance is also at 60%-63%. Boosting EPS: Non-GAAP operating expenses fell 13% Y/Y to $186.7M, and $23M was spent on buybacks. Maxim ended FQ2 with $1.77B in cash, and $1B in long-term debt.
    • Shares have risen to $32.25 after hours.
    • FQ2 results, earnings release
    | Thu, Jan. 21, 4:43 PM
  • Thu, Jan. 21, 4:04 PM
    • Maxim Integrated Products (NASDAQ:MXIM): FQ2 EPS of $0.32 in-line.
    • Revenue of $510.83M (-9.9% Y/Y) beats by $5.75M.
    | Thu, Jan. 21, 4:04 PM
  • Wed, Jan. 20, 5:35 PM
    | Wed, Jan. 20, 5:35 PM | 2 Comments
  • Fri, Jan. 8, 2:55 PM
    • Bloomberg reports Texas Instruments (TXN -1.8%) and Analog Devices (ADI +0.6%) have decided against bidding for fellow analog/mixed-signal chipmaker Maxim Integrated (MXIM -4%). Maxim has dropped on the report; TI was already lower.
    • Bloomberg previously reported of buyout interest in Maxim from both TI and ADI. With a current $9.4B market cap, an acquisition of Maxim would be among the larger deals (though not the largest) seen during the chip industry's ongoing M&A wave.
    | Fri, Jan. 8, 2:55 PM
  • Mon, Jan. 4, 9:03 AM
    • December monthly performance was: -1.6%
    • AUM of $1.51B
    • 52-week performance vs. the S&P 500 is: -3%
    • $0.65 in dividends were paid in December
    • Top 10 Holdings as of 11/30/2015: Mattel Inc (MAT): 1.08%, Ameren Corp (AEE): 1.05%, Maxim Integrated Products Inc (MXIM): 1.04%, Coach Inc (COH): 0.87%, Diamond Offshore Drilling Inc (DO): 0.84%, HollyFrontier Corp (HFC): 0.83%, Frontier Communications Corp Class B (FTR): 0.83%, JM Smucker Co (SJM): 0.82%, Microchip Technology Inc (MCHP): 0.82%, CVR Energy Inc (CVI): 0.82%
    | Mon, Jan. 4, 9:03 AM
  • Dec. 14, 2015, 7:40 AM
    • Added to the Nasdaq 100 (NASDAQ:QQQ), effective Dec. 21 will be: Ctrip (NASDAQ:CTRP), Endo International (NASDAQ:ENDP), Expedia (NASDAQ:EXPE), Maxim Integrated (NASDAQ:MXIM), Norwegian Cruise Lines (NASDAQ:NCLH), T-Mobile (NASDAQ:TMUS), and Ulta Salon (NASDAQ:ULTA).
    • To be removed: C.H. Robinson (NASDAQ:CHRW), Expeditors International (NASDAQ:EXPD), Keurig Green Mountain (NASDAQ:GMCR), Garmin (NASDAQ:GRMN), Staples (NASDAQ:SPLS), VimpelCom (NASDAQ:VIP), and Wynn Resorts (NASDAQ:WYNN). Also to be removed: LiLAC Class A Shares (NASDAQ:LILA), and LiLAC Class C Shares (NASDAQ:LILAK).
    | Dec. 14, 2015, 7:40 AM | 10 Comments
  • Dec. 9, 2015, 12:07 PM
    • "We believe Maxim (MXIM +1.6%) will likely be acquired and TXN is the most likely acquirer," writes Nomura's Romit Shah, upgrading Maxim to Buy and hiking his target by $14 to $47.
    • Shah, who also upgraded Intel today: "After a strong year of consolidation in 2015 (with a record 49 transactions at an estimated total value of $120bn), we expect the remaining marquee (>$10bn market cap) semiconductor names to be in focus in 2016, with MXIM at the top of the short list."
    • He sees Texas Instruments (TXN -1.2%) as the most likely buyer due to "the strategic nature" of a deal between the analog/mixed-signal chipmakers, and a belief Maxim's high cash flow yield would meet TI's valuation requirements.
    • Bloomberg reported in October TI had approached Maxim about an acquisition. Rival Analog Devices has also reportedly held deal talks with Maxim.
    | Dec. 9, 2015, 12:07 PM
  • Dec. 1, 2015, 9:28 AM
    • November monthly performance was: +0.71%
    • AUM of $1.54B
    • 52-week performance vs. the S&P 500 is: -1%
    • $0.17 in dividends were paid in November
    • Top 10 Holdings as of 10/30/2015: Maxim Integrated Products Inc (MXIM): 1.09%, Mattel Inc (MAT): 1.06%, Ameren Corp (AEE): 1.04%, CenterPoint Energy Inc (CNP): 0.89%, Coach Inc (COH): 0.85%, Frontier Communications Corp Class B (FTR): 0.85%, HollyFrontier Corp (HFC): 0.85%, CMS Energy Corp (CMS): 0.82%, Microchip Technology Inc (MCHP): 0.81%, Darden Restaurants Inc (DRI): 0.81%
    | Dec. 1, 2015, 9:28 AM
  • Nov. 18, 2015, 10:37 AM
    • TowerJazz (NASDAQ:TSEM) is buying analog/mixed-signal chipmaker Maxim's (MXIM +1.3%) San Antonio, TX wafer fab for $40M in stock. The deal is expected to close in January.
    • The fab manufactures chips on 8" (200mm) wafers, supports analog process nodes of 130nm and higher, and will boost TowerJazz's total production capacity to 28K wafers/month.
    • As part of the deal, Maxim (already a TowerJazz client) has struck a long-term supply deal with TowerJazz related to the San Antonio facility. TowerJazz plans to "quickly qualify its core specialty technologies, including its advanced Radio-Frequency Silicon-on-Insulator (RF-SOI) offering," for use at the fab.
    • TowerJazz's shares have hit $16 for the first time since June. The 52-week high is $18.29.
    | Nov. 18, 2015, 10:37 AM | 13 Comments
  • Oct. 29, 2015, 12:29 PM
    • Down on Monday following Dialog Semi's Q3 report and up yesterday in the wake of Apple's results/guidance, chip stocks are selling off again (SOXX -2.5%) after leading microcontroller vendor NXP (NXPI -18.2%) posted mixed Q3 results and (more importantly) guided for Q4 revenue to be down by a "low to upper-teens" % Q/Q. The Nasdaq is down 0.3%.
    • Also: 1) NXP rival and fellow European chipmaker STMicroelectronics (STM -5.8%) slightly missed Q3 revenue estimates and has guided for Q4 revenue to be down 6% (+/- 3.5%) Q/Q. 2) Network processor vendor Cavium (CAVM -5%) issued light Q4 guidance, while blaming a distribution model change at its biggest data center customer. 3) Microcontroller maker Atmel (ATML -2.4%, set to be acquired by Dialog) missed Q3 revenue estimates and guided for Q4 revenue of $266M-$286M, below a $296.1M consensus.
    • On the bright side, Apple-dependent Cirrus Logic (CRUS -5.7%) beat FQ2 EPS estimates (revenue was in-line) and provided solid FQ3 guidance, and fellow Apple/Samsung supplier InvenSense (INVN +14.3%) beat FQ2 estimates and issued in-line FQ3 guidance. Cirrus is nonetheless selling off; the earnings call (transcript) was generally upbeat, with management talking up FY16/FY17 growth opportunities related to smart codec and boosted amplifier sales.
    • NXP merger partner Freescale (FSL -15.4%) is naturally seeing big losses. Other decliners include RF chipmakers Skyworks (SWKS -3.1%), Avago (AVGO -6%), and Qorvo (QRVO -2.6%), analog/mixed-signal chipmakers Texas Instruments (TXN -3%), ON Semi (ON -5.9%), MagnaChip (MX -6.8%), Fairchild (FCS -4.3%), Maxim (MXIM -3.1%), and IDT (IDTI -5.2%), and smart TV SoC vendor/STMicro rival Sigma Designs (SIGM -3.2%).
    • Like NXP, Cirrus, and InvenSense, Skyworks, Avago, Qorvo, TI, and Fairchild are Apple suppliers. Fairchild and Maxim have recently benefited from M&A reports (I, II).
    • Both NXP and STMicro reported seeing conditions deteriorate as Q3 progressed. NXP added lower-than-expected chip sell-through led to higher channel inventories, and STMicro stated "lower consumer spending in China is impacting the dynamics of the distribution channel in the region and the industry more globally, particularly in automotive." NXP has added 20M shares to its buyback in an attempt to soften the blow.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | Oct. 29, 2015, 12:29 PM | 7 Comments
  • Oct. 28, 2015, 1:49 PM
    • The chip industry's M&A craze appears to be as strong as ever: Bloomberg reports Texas Instruments (TXN -0.8%) has approached smaller analog/mixed-signal chipmaker Maxim (NASDAQ:MXIM) about a potential deal.
    • Maxim, which is reportedly seeking a larger premium to agree to a deal, has spiked higher. Its market cap stands at $11.6B.
    • Bloomberg reported two weeks ago TI rival Analog Devices (ADI +0.6%) is in merger talks with Maxim. Since then, Maxim has posted a calendar Q3 revenue miss and issued soft Q4 guidance.
    | Oct. 28, 2015, 1:49 PM | 3 Comments
Company Description
Maxim Integrated Products, Inc. designs, develops, manufactures and markets a broad range of linear and mixed-signal integrated circuits. Its products are marketed through four end-markets, including Industrial, communications, consumer and computing. The Industrial market includes Automatic... More
Sector: Technology
Industry: Semiconductor - Broad Line
Country: United States