Maxim's (MXIM) Q4 Earnings In Line, Revenues Lag Estimates
Zacks Investment Research | Jul 31, 2019 10:56PM ET
Maxim Integrated Products, Inc. (NASDAQ:MXIM) reported fiscal fourth-quarter 2019 adjusted earnings of 57 cents per share, which came in line with the Zacks Consensus Estimate. Notably, the figure declined 21.9% year over year but improved 9.6% on a sequential basis.
Revenues of $556.54 million came within the company’s guided range of $540 million to $580 million. Notably, the figure missed the Zacks Consensus Estimate of $560 million and decreased 12% year over year. However, the figure increased 3% from the previous quarter.
This can be attributed to sluggish demand environment, which impacted the company’s end-market performance, especially in the industrial, consumer and, communications and data center markets.
Following the release of fiscal fourth quarter results, the stock has plunged 7.7%. This can be attributed to weak outlook for fiscal first-quarter 2020 revenues and earnings owing to uncertainties in demand environment.
Coming to price performance, shares of Maxim have gained 17.7% on a year-to-date basis, underperforming the Zacks Investment Research
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