Maxim Integrated guides for 3Q sales below Street

Semiconductor maker Maxim Integrated Products Inc. guided for fiscal third-quarter sales below Wall Street expectations Thursday.

For the January-to-March period, the company expects revenue in the range of $290 million to $330 million.

Analysts polled by Thomson Reuters expect revenue of $367.3 million for the quarter.

"While our recent review of our markets and customers indicates that bookings pace should improve this quarter, we nevertheless continue to manage expenses prudently," President and Chief Executive Tunc Doluca said in a statement.

Meanwhile, the company said it swung to a fiscal second-quarter loss and declared a fiscal second-quarter dividend of 20 cents.

Shares fell 69 cents, or 5.1 percent, to close at $12.87. The stock has traded between $10.72 and $24.15 over the past 52 weeks.