Maxim Shares Drop On Disappointing Revenue, Outlook

Maxim Integrated Products Inc. shares fell in the extended session Thursday after the integrated circuit maker's revenue for the quarter and outlook fell below Wall Street expectations. Maxim shares fell 7.2% to $32.25 on moderate volume. The company reported adjusted fiscal third-quarter earnings of 40 cents a share on revenue of $577 million. Analysts surveyed by FactSet had estimated 35 cents a share on revenue of $585.2 million. Maxim forecast adjusted fiscal fourth-quarter earnings of 35 cents to 41 cents a share on revenue of $570 million to $610 million. Analysts estimated 44 cents a share on revenue of $616.7 million.