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Maxim Integrated (MXIM) Stock Closed Higher on Q4 Earnings

NEW YORK (TheStreet) -- Shares of Maxim Integrated Products (MXIM) closed up 1.7% to $38.35 on heavy trading volume Friday after the company posted higher-than-expected earnings for the 2016 fiscal fourth quarter.

After yesterday's closing bell, the San Jose, CA-based semiconductor company posted earnings of 49 cents per share, surpassing analysts' estimates by a penny.

Revenue increased 2% to $566 million from last year, but fell short of analysts' expectations of $575.5 million.

For the 2017 fiscal first quarter, the company forecasts adjusted earnings per share between 44 cents...