Research Desk Line-up: Texas Instruments Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 26, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Maxim Integrated Products, Inc. (NASDAQ: MXIM) ("Maxim"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MXIM, following the Company's reporting of its financial results on October 19, 2017, for the first quarter of the fiscal year 2018. The Company's net revenues increased 2.5% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Semiconductor - Broad Line industry. Pro-TD has currently selected Texas Instruments Incorporated (NASDAQ: TXN) for due-diligence and potential coverage as the Company reported on October 24, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Texas Instruments when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MXIM; also brushing on TXN. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=MXIM

http://protraderdaily.com/optin/?symbol=TXN

Earnings Reviewed

For the three months ended September 23, 2017, Maxim's net revenues increased 2.5% to $575.68 million from $561.40 million in Q1 FY17. The increase was due to major strength in the automotive and industrial end markets. The net revenue figures surpassed analysts' expectations of $575 million.

During Q1 FY18, the Company's gross profit increased 8.1% to $373.83 million from $345.73 million in the same period of last year. For the reported quarter, the Company's gross margin increased 330 basis points to 64.9% of revenue from 61.6% of revenue in Q1 FY17. For the reported quarter, the Company's adjusted gross margin increased 290 basis points to 66.9% of revenue from 64.0% of revenue in Q1 FY17.

For the reported quarter, Maxim's selling, general, and administrative expenses (SG&A) increased 3.9% to $73.68 million from $70.85 million in Q1 FY17. During Q1 FY18, the Company's R&D expenses decreased 3.6% to $108.60 million from $112.75 million in the comparable period of last year. For the reported quarter, Maxim's amortization expenses decreased 28.2% to $1.75 million from $2.44 million in Q1 FY17.

During Q1 FY18, Maxim's operating income increased 7.6% to $185.17 million from $172.07 million in Q1 FY17. For the reported quarter, the Company's operating margin increased 150 basis points to 32.1% of revenue from 30.6% of revenue in Q1 FY17.

For the reported quarter, Maxim's net income increased 12.2% to $154.53 million on a y-o-y basis from $137.61 million in Q1 FY17. During Q1 FY18, the Company's adjusted net income increased 23.3% to $170.55 million on a y-o-y basis from $138.23 million in Q1 FY17. For the reported quarter, the Company's diluted earnings per share (EPS) increased 12.5% to $0.54 on a y-o-y basis from $0.48 in the corresponding period of last year. During Q1 FY18, the Company's adjusted diluted EPS increased 25% to $0.60 on a y-o-y basis from $0.48 in Q1 FY17. The adjusted diluted EPS surpassed analysts' expectations of $0.55.

Balance Sheet

As on September 23, 2017, Maxim's cash and cash equivalents decreased 24.6% to $1.58 billion from $2.09 billion as on September 24, 2016.

During Q1 FY18, the Company's short-term investments increased 582.1% to $1.20 billion from $175.44 million in Q1 FY17.

During Q1 FY18, Maxim's net accounts receivable decreased 8% to $233.22 million from $253.52 million in the same period of last year.

For the reported quarter, the Company's inventories increased 9.7% to $245.35 million from $223.48 million in Q1 FY17.

For the reported quarter, the Company's accounts payable decreased 19.9% to $66.92 million from $83.59 million in Q1 FY17.

During Q1 FY18, Maxim's long-term debt increased 50.2% to $1.49 billion from $990.69 million in Q1 FY17.

As on September 23, 2017, the Company's cash provided by operating activities increased 78% to $219.71 million from $123.40 million as on September 24, 2016.

On October 19, 2017, the Company's Board of Directors declared a cash dividend of $0.36 per share, payable on December 14, 2017, to stockholders of record on November 30, 2017.

Outlook

For Q2 FY18, Maxim expects revenue to be in the range of $600 million - $640 million and gross margin to be in the band of 64% of revenue - 66% of revenue.

The Company estimates diluted EPS to be in the range of $0.57 - $0.63 and adjusted diluted EPS to be in the band of $0.61 - $0.67 for Q2 FY18.

Stock Performance

On Wednesday, October 25, 2017, the stock closed the trading session at $51.45, slipping 1.70% from its previous closing price of $52.34. A total volume of 2.18 million shares have exchanged hands, which was higher than the 3-month average volume of 1.99 million shares. Maxim Integrated Products' stock price surged 12.88% in the last three months, 14.13% in the past six months, and 28.53% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 33.39%. The stock is trading at a PE ratio of 25.92 and has a dividend yield of 2.80%. At Wednesday's closing price, the stock's net capitalization stands at $14.54 billion.

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