Stocks on the Move: Maxim Integrated Products Inc. (NASDAQ:MXIM), Skyworks Solutions Inc (NASDAQ:SWKS)
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Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM) declined -6.06% to $44.93 on Friday, since a company engaged in designing, developing, manufacturing and marketing a range of linear and mixed-signal integrated circuits, referred to as analog circuits, beats 4Q profit forecasts reporting fiscal fourth-quarter profit of $163.3 million.
The San Jose, California-based company said it had profit of 57 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 63 cents per share. The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The chipmaker posted revenue of $602 million in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks predictable $608.3 million. For the year, the company stated profit of $571.6 million, or $1.98 per share. Revenue was stated as $2.3 billion. For the current quarter ending in October, Maxim anticipates its per-share earnings to range from 52 cents to 58 cents.
The company said it anticipates revenue in the range of $555 million to $595 million for the fiscal first quarter. Analysts surveyed by Zacks had predictable revenue of $595.6 million.
The stock is currently trading at $44.94 per share, floating in a range of $43.98 to $46.40. The stock is moving on high volume, traded at a volume of 4.75 million shares, as compared to its average daily volume of 2.09 million shares. The market capitalization billion for the company is reported at $12.89 Billion.
Skyworks Solutions Inc (NASDAQ:SWKS) stock price declined -0.36 points or -0.33% at the market, since a company that designs, develops, manufactures and markets semiconductor products, counting intellectual property, stated fiscal third-quarter earnings of $246.2 million.
The Woburn, Massachusetts-based company said it had profit of $1.32 per share. Earnings, adjusted for stock option expense and pretax expenses, were $1.57 per share. The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The chipmaker posted revenue of $900.8 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks predictable $890.1 million. For the current quarter ending in September, Skyworks anticipates its per-share earnings to be $1.75. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.73.
The company said it anticipates revenue in the range of $980 million for the fiscal fourth quarter. Analysts surveyed by Zacks had predictable revenue of $972.8 million.
The stock opened at $106.73. It reached an intraday trading high of $107.98 and now trading at $107.28. The total volume traded for the day is 2.83 million, as compared to its average daily volume of 1.98 million shares. The current EPS for the company has been recorded at $4.85 and the beta value recorded by the company stands at 0.81 points.