Intrinsic value of Maxim Integrated Products - MXIM

Previous Close

$43.99

  Intrinsic Value

$15.99

stock screener

  Rating & Target

str. sell

-64%

  Value-price divergence*

-34%

Previous close

$43.99

 
Intrinsic value

$15.99

 
Up/down potential

-64%

 
Rating

str. sell

 
Value-price divergence*

-34%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MXIM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 12.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -4.85
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
  4.97
  4.97
  4.98
  4.98
  4.98
  4.98
  4.98
  4.99
Revenue, $m
  2,195
  2,298
  2,407
  2,521
  2,642
  2,769
  2,902
  3,043
  3,191
  3,346
  3,509
  3,681
  3,862
  4,052
  4,251
  4,461
  4,681
  4,913
  5,156
  5,411
  5,680
  5,961
  6,258
  6,569
  6,895
  7,238
  7,599
  7,977
  8,375
  8,792
  9,230
Variable operating expenses, $m
 
  2,061
  2,157
  2,257
  2,362
  2,474
  2,590
  2,714
  2,843
  2,979
  3,122
  3,223
  3,382
  3,548
  3,722
  3,906
  4,099
  4,302
  4,514
  4,738
  4,973
  5,220
  5,479
  5,752
  6,038
  6,338
  6,654
  6,985
  7,333
  7,699
  8,082
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,931
  2,061
  2,157
  2,257
  2,362
  2,474
  2,590
  2,714
  2,843
  2,979
  3,122
  3,223
  3,382
  3,548
  3,722
  3,906
  4,099
  4,302
  4,514
  4,738
  4,973
  5,220
  5,479
  5,752
  6,038
  6,338
  6,654
  6,985
  7,333
  7,699
  8,082
Operating income, $m
  263
  237
  250
  264
  279
  295
  312
  329
  348
  367
  387
  458
  480
  504
  529
  555
  582
  611
  641
  673
  706
  741
  778
  817
  858
  900
  945
  992
  1,042
  1,093
  1,148
EBITDA, $m
  508
  400
  419
  439
  460
  483
  506
  530
  556
  583
  612
  642
  673
  706
  741
  777
  816
  856
  898
  943
  990
  1,039
  1,090
  1,145
  1,202
  1,261
  1,324
  1,390
  1,459
  1,532
  1,609
Interest expense (income), $m
  29
  35
  38
  41
  44
  48
  52
  56
  60
  64
  69
  74
  79
  84
  90
  96
  102
  109
  116
  123
  131
  139
  147
  156
  165
  175
  185
  196
  208
  219
  232
Earnings before tax, $m
  285
  202
  213
  224
  235
  247
  260
  274
  288
  303
  318
  384
  401
  419
  439
  459
  480
  502
  525
  550
  576
  603
  631
  661
  692
  725
  760
  796
  834
  874
  916
Tax expense, $m
  58
  55
  57
  60
  63
  67
  70
  74
  78
  82
  86
  104
  108
  113
  118
  124
  130
  136
  142
  148
  155
  163
  170
  178
  187
  196
  205
  215
  225
  236
  247
Net income, $m
  227
  148
  155
  163
  172
  181
  190
  200
  210
  221
  232
  280
  293
  306
  320
  335
  350
  366
  383
  401
  420
  440
  461
  482
  505
  529
  554
  581
  609
  638
  669

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,231
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,235
  2,551
  2,671
  2,798
  2,932
  3,073
  3,221
  3,377
  3,541
  3,714
  3,895
  4,086
  4,286
  4,497
  4,718
  4,951
  5,195
  5,452
  5,722
  6,006
  6,304
  6,616
  6,945
  7,290
  7,653
  8,034
  8,434
  8,854
  9,295
  9,758
  10,245
Adjusted assets (=assets-cash), $m
  2,004
  2,551
  2,671
  2,798
  2,932
  3,073
  3,221
  3,377
  3,541
  3,714
  3,895
  4,086
  4,286
  4,497
  4,718
  4,951
  5,195
  5,452
  5,722
  6,006
  6,304
  6,616
  6,945
  7,290
  7,653
  8,034
  8,434
  8,854
  9,295
  9,758
  10,245
Revenue / Adjusted assets
  1.095
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
  0.901
Average production assets, $m
  1,096
  1,147
  1,201
  1,258
  1,318
  1,382
  1,448
  1,518
  1,592
  1,670
  1,751
  1,837
  1,927
  2,022
  2,121
  2,226
  2,336
  2,451
  2,573
  2,700
  2,834
  2,975
  3,123
  3,278
  3,441
  3,612
  3,792
  3,981
  4,179
  4,387
  4,606
Working capital, $m
  2,198
  228
  238
  250
  262
  274
  287
  301
  316
  331
  347
  364
  382
  401
  421
  442
  463
  486
  510
  536
  562
  590
  619
  650
  683
  717
  752
  790
  829
  870
  914
Total debt, $m
  1,240
  1,077
  1,170
  1,268
  1,371
  1,479
  1,593
  1,713
  1,840
  1,973
  2,112
  2,259
  2,413
  2,576
  2,746
  2,925
  3,113
  3,311
  3,519
  3,737
  3,967
  4,208
  4,461
  4,727
  5,006
  5,299
  5,607
  5,930
  6,270
  6,627
  7,001
Total liabilities, $m
  2,127
  1,964
  2,057
  2,155
  2,258
  2,366
  2,480
  2,600
  2,727
  2,860
  2,999
  3,146
  3,300
  3,463
  3,633
  3,812
  4,000
  4,198
  4,406
  4,624
  4,854
  5,095
  5,348
  5,614
  5,893
  6,186
  6,494
  6,817
  7,157
  7,514
  7,888
Total equity, $m
  2,108
  587
  614
  644
  674
  707
  741
  777
  814
  854
  896
  940
  986
  1,034
  1,085
  1,139
  1,195
  1,254
  1,316
  1,381
  1,450
  1,522
  1,597
  1,677
  1,760
  1,848
  1,940
  2,036
  2,138
  2,244
  2,356
Total liabilities and equity, $m
  4,235
  2,551
  2,671
  2,799
  2,932
  3,073
  3,221
  3,377
  3,541
  3,714
  3,895
  4,086
  4,286
  4,497
  4,718
  4,951
  5,195
  5,452
  5,722
  6,005
  6,304
  6,617
  6,945
  7,291
  7,653
  8,034
  8,434
  8,853
  9,295
  9,758
  10,244
Debt-to-equity ratio
  0.588
  1.840
  1.900
  1.970
  2.030
  2.090
  2.150
  2.210
  2.260
  2.310
  2.360
  2.400
  2.450
  2.490
  2.530
  2.570
  2.610
  2.640
  2.670
  2.710
  2.740
  2.760
  2.790
  2.820
  2.840
  2.870
  2.890
  2.910
  2.930
  2.950
  2.970
Adjusted equity ratio
  0.063
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  227
  148
  155
  163
  172
  181
  190
  200
  210
  221
  232
  280
  293
  306
  320
  335
  350
  366
  383
  401
  420
  440
  461
  482
  505
  529
  554
  581
  609
  638
  669
Depreciation, amort., depletion, $m
  245
  164
  169
  175
  181
  187
  194
  201
  208
  216
  224
  184
  193
  202
  212
  223
  234
  245
  257
  270
  283
  297
  312
  328
  344
  361
  379
  398
  418
  439
  461
Funds from operations, $m
  821
  311
  324
  338
  353
  368
  384
  401
  418
  437
  457
  464
  486
  508
  532
  557
  584
  612
  641
  671
  704
  737
  773
  810
  849
  890
  934
  979
  1,027
  1,077
  1,129
Change in working capital, $m
  99
  10
  11
  11
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  27
  28
  29
  31
  32
  34
  36
  37
  39
  41
  43
Cash from operations, $m
  722
  301
  314
  327
  341
  355
  371
  387
  404
  422
  440
  447
  468
  490
  513
  537
  562
  589
  617
  646
  677
  709
  744
  779
  817
  856
  898
  942
  987
  1,035
  1,086
Maintenance CAPEX, $m
  0
  -110
  -115
  -120
  -126
  -132
  -138
  -145
  -152
  -159
  -167
  -175
  -184
  -193
  -202
  -212
  -223
  -234
  -245
  -257
  -270
  -283
  -297
  -312
  -328
  -344
  -361
  -379
  -398
  -418
  -439
New CAPEX, $m
  -69
  -51
  -54
  -57
  -60
  -63
  -67
  -70
  -74
  -78
  -82
  -86
  -90
  -95
  -100
  -105
  -110
  -115
  -121
  -127
  -134
  -141
  -148
  -155
  -163
  -171
  -180
  -189
  -198
  -208
  -219
Cash from investing activities, $m
  63
  -161
  -169
  -177
  -186
  -195
  -205
  -215
  -226
  -237
  -249
  -261
  -274
  -288
  -302
  -317
  -333
  -349
  -366
  -384
  -404
  -424
  -445
  -467
  -491
  -515
  -541
  -568
  -596
  -626
  -658
Free cash flow, $m
  785
  141
  145
  150
  155
  160
  166
  172
  178
  185
  192
  186
  194
  202
  211
  220
  230
  240
  250
  261
  273
  285
  298
  312
  326
  341
  357
  374
  391
  409
  428
Issuance/(repayment) of debt, $m
  250
  87
  93
  98
  103
  108
  114
  120
  126
  133
  140
  147
  154
  162
  170
  179
  188
  198
  208
  218
  229
  241
  253
  266
  279
  293
  308
  323
  340
  357
  375
Issuance/(repurchase) of shares, $m
  -148
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  112
  87
  93
  98
  103
  108
  114
  120
  126
  133
  140
  147
  154
  162
  170
  179
  188
  198
  208
  218
  229
  241
  253
  266
  279
  293
  308
  323
  340
  357
  375
Total cash flow (excl. dividends), $m
  896
  228
  238
  247
  258
  269
  280
  292
  304
  318
  332
  333
  348
  364
  381
  399
  418
  437
  458
  480
  502
  526
  551
  578
  605
  634
  665
  697
  731
  766
  803
Retained Cash Flow (-), $m
  182
  -27
  -28
  -29
  -31
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -54
  -56
  -59
  -62
  -65
  -69
  -72
  -76
  -79
  -83
  -88
  -92
  -97
  -101
  -107
  -112
Prev. year cash balance distribution, $m
 
  1,548
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,749
  210
  218
  227
  236
  246
  256
  267
  278
  290
  289
  302
  316
  330
  346
  362
  378
  396
  414
  434
  454
  476
  498
  522
  547
  573
  600
  629
  659
  691
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,677
  192
  190
  187
  183
  178
  173
  167
  160
  152
  137
  129
  120
  111
  101
  92
  82
  73
  64
  55
  47
  39
  33
  27
  21
  17
  13
  10
  7
  5
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Maxim Integrated Products, Inc. designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits in the United States, China, other countries in Asia, Europe, and internationally. It also provides a range of high-frequency process technologies and capabilities for use in custom designs. The company serves automotive, communications and data center, computing, consumer, and industrial markets. It markets its products through a direct-sales and applications organization, as well as through its own and other unaffiliated distribution channels. Maxim Integrated Products, Inc. was founded in 1983 and is headquartered in San Jose, California.

FINANCIAL RATIOS  of  Maxim Integrated Products (MXIM)

Valuation Ratios
P/E Ratio 55
Price to Sales 5.7
Price to Book 5.9
Price to Tangible Book
Price to Cash Flow 17.3
Price to Free Cash Flow 19.1
Growth Rates
Sales Growth Rate -4.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -9.2%
Cap. Spend. - 3 Yr. Gr. Rate -20.5%
Financial Strength
Quick Ratio 9
Current Ratio 0.2
LT Debt to Equity 47%
Total Debt to Equity 58.8%
Interest Coverage 11
Management Effectiveness
Return On Assets 5.9%
Ret/ On Assets - 3 Yr. Avg. 6.8%
Return On Total Capital 6.9%
Ret/ On T. Cap. - 3 Yr. Avg. 8%
Return On Equity 10.3%
Return On Equity - 3 Yr. Avg. 11.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 56.7%
Gross Margin - 3 Yr. Avg. 56.1%
EBITDA Margin 25.5%
EBITDA Margin - 3 Yr. Avg. 26%
Operating Margin 12%
Oper. Margin - 3 Yr. Avg. 13.4%
Pre-Tax Margin 13%
Pre-Tax Margin - 3 Yr. Avg. 13.4%
Net Profit Margin 10.3%
Net Profit Margin - 3 Yr. Avg. 11.2%
Effective Tax Rate 20.4%
Eff/ Tax Rate - 3 Yr. Avg. 16.6%
Payout Ratio 150.7%

MXIM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MXIM stock intrinsic value calculation we used $2195 million for the last fiscal year's total revenue generated by Maxim Integrated Products. The default revenue input number comes from 2016 income statement of Maxim Integrated Products. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MXIM stock valuation model: a) initial revenue growth rate of 4.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MXIM is calculated based on our internal credit rating of Maxim Integrated Products, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Maxim Integrated Products.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MXIM stock the variable cost ratio is equal to 89.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MXIM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Maxim Integrated Products.

Corporate tax rate of 27% is the nominal tax rate for Maxim Integrated Products. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MXIM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MXIM are equal to 49.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Maxim Integrated Products operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MXIM is equal to 9.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2108 million for Maxim Integrated Products - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 278.45 million for Maxim Integrated Products is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Maxim Integrated Products at the current share price and the inputted number of shares is $12.2 billion.

RELATED COMPANIES Price Int.Val. Rating
TXN Texas Instrume 80.15 77.91  hold
ADI Analog Devices 77.56 157.13  str.buy
CRUS Cirrus Logic 54.75 652.57  str.buy
SLAB Silicon Labora 73.55 92.01  buy
NXPI NXP Semiconduc 112.47 81.79  sell
MSCC Microsemi 48.89 19.97  str.sell
SMTC Semtech 36.05 120.94  str.buy
ON ON Semiconduct 15.99 11.02  sell

COMPANY NEWS

▶ What is Driving Texas Instrumentss Revenue in Fiscal 2017?   [Jul-31-17 03:36PM  Market Realist]
▶ Maxim beats 4Q profit forecasts   [Jul-20-17 09:54PM  Associated Press]
▶ Two Top Chip Stocks Get Price-Target Hikes   [Jul-17-17 04:42PM  Investor's Business Daily]
▶ Maxim Integrated To Issue $500 Million Of Senior Notes   [Jun-08-17 04:05PM  PR Newswire]
▶ Device Analysis Reveals Chip Winners; Ambarella Tumbles On Outlook   [Jun-07-17 04:23PM  Investor's Business Daily]
▶ Apple iPhone 8 Chip Winners And Losers Predicted   [May-26-17 08:04PM  Investor's Business Daily]
▶ Chipmaker Maxim Falls On Slowing Automotive Chip Sales   [Apr-21-17 04:06PM  Investor's Business Daily]
▶ Trouble for Maxim Integrated Means Trouble for Semis   [Apr-20-17 09:39PM  Investopedia]
▶ Maxim tops Street 3Q forecasts   [04:18PM  Associated Press]
▶ Next Apple Watch to Have Internet Connectivity: Analyst   [Mar-27-17 04:46PM  Investopedia]
▶ How Analysts View ON Semiconductor   [09:05AM  at Market Realist]
▶ Is There Any Hope for ON in the Consumer and Computing Markets?   [Feb-24-17 07:35AM  at Market Realist]
▶ A Deep Dive into ON Semiconductors 4Q16 Revenues   [Feb-21-17 04:05PM  at Market Realist]
▶ Why ADIs Automotive Is a Future Growth Driver   [Feb-13-17 07:35AM  at Market Realist]
▶ Can ADI Maintain High Profitability in Fiscal 1Q17?   [Feb-09-17 04:36PM  at Market Realist]
▶ Is Maxim Integrated Products in the Chips?   [Feb-03-17 01:18PM  at TheStreet]
Stock chart of MXIM Financial statements of MXIM
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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