Maxim Integrated Products (MXIM) Reports In-Line 1Q Results; RBC Capital Cuts Price Target to $40

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Maxim Integrated Reports Results For The First Quarter Of Fiscal 2016

October 22, 2015 4:01 PM EDT

SAN JOSE, Calif., Oct. 22, 2015 /PRNewswire/ -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) reported net revenue of $563 million for its first quarter of fiscal 2016 ended September 26, 2015, a 3% decrease from the $583 million revenue recorded in the prior quarter, and a 3% decrease from the same quarter of last year.

Tunc Doluca, President and Chief Executive Officer, commented, "Our first quarter financial performance was in line with our expectations." Mr. Doluca continued, "Our soft outlook for the December quarter reflects an unusually high decline in... More