UPDATE 1-Maxim Integrated Q1 tops Street view, sees strong Q2

* Q1 adj EPS $0.43 vs est $0.37

* Q1 rev $626.1 mln vs est $614.2 mln

* Q2 adj EPS view $0.39-$0.44 vs est $0.35

* Sees Q2 rev $595-$625 mln vs est $603.8 mln

* Shares up 6 percent

Oct 28 (BestGrowthStock) – Chipmaker Maxim Integrated Products Inc
(MXIM.O: ) posted first-quarter results above Wall Street
expectations, helped by design wins and continued demand, and
forecast a strong second quarter.

Shares of the company were up 6 percent at $20.85 in
extended trade.

The company sees second-quarter earnings of 39-44 cents a
share, excluding items, on revenue of $595-$625 million.

Analysts were expecting earnings of 35 cents a share,
excluding items, on revenue of $603.8 million, according to
Thomson Reuters I/B/E/S.

Maxim Integrated, which competes with Analog Devices Inc
(ADI.N: ), National Semiconductor Corp (NSM.N: ) and Texas
Instruments Inc (TXN.N: ), makes analog and mixed-signal chips
for automotive, communications, consumer electronics and
computing and storage markets.

For the first quarter, the company’s earnings almost
tripled to $117.6 million, or 39 cents a share, from $42
million, or 13 cents a share, a year ago. Excluding items,
Maxim earned 43 cents a share.

Revenue rose 39 percent to $626.1 million.

Analysts were expecting the company to earn 37 cents a
share, before items, on revenue of $614 million, according to
Thomson Reuters I/B/E/S.

Shares of Sunnyvale, California-based Maxim have risen 9
percent since the company reported fourth-quarter results on
July 29.
(Reporting by Siddharth Cavale in Bangalore; Editing by Vinu
Pilakkott)

UPDATE 1-Maxim Integrated Q1 tops Street view, sees strong Q2