Brokerages Anticipate Microchip Technology Incorporated (NASDAQ:MCHP) Will Post Earnings of $1.25 Per Share

Analysts expect Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) to report earnings of $1.25 per share for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Microchip Technology’s earnings, with the highest EPS estimate coming in at $1.26 and the lowest estimate coming in at $1.25. Microchip Technology posted earnings per share of $0.93 in the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The company is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Microchip Technology will report full-year earnings of $4.51 per share for the current fiscal year, with EPS estimates ranging from $4.51 to $4.53. For the next fiscal year, analysts anticipate that the business will report earnings of $5.20 per share, with EPS estimates ranging from $5.05 to $5.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Microchip Technology.

Microchip Technology (NASDAQ:MCHPGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The semiconductor company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Microchip Technology had a return on equity of 38.44% and a net margin of 14.95%. During the same period last year, the firm earned $0.72 earnings per share.

A number of equities analysts have issued reports on the company. Bank of America decreased their price objective on Microchip Technology from $100.00 to $92.00 and set a “buy” rating for the company in a report on Friday, February 4th. UBS Group boosted their target price on Microchip Technology from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, March 9th. B. Riley lowered their price target on Microchip Technology from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 4th. Rosenblatt Securities boosted their target price on shares of Microchip Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 4th. Finally, The Goldman Sachs Group lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and set a $79.00 target price for the company. in a report on Sunday, March 27th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $95.79.

In related news, Director Matthew W. Chapman sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $70.93, for a total transaction of $70,930.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $70.93, for a total transaction of $133,703.05. The disclosure for this sale can be found here. Insiders have sold a total of 6,498 shares of company stock worth $460,903 in the last ninety days. Insiders own 2.03% of the company’s stock.

A number of large investors have recently made changes to their positions in MCHP. Cedar Wealth Management LLC acquired a new stake in Microchip Technology in the third quarter worth about $35,000. Emfo LLC grew its position in Microchip Technology by 100.0% during the 4th quarter. Emfo LLC now owns 290 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 145 shares during the last quarter. Hoese & Co LLP increased its stake in Microchip Technology by 100.0% during the 4th quarter. Hoese & Co LLP now owns 300 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 150 shares in the last quarter. Landmark Wealth Management LLC acquired a new position in shares of Microchip Technology in the 1st quarter valued at $30,000. Finally, Tarbox Family Office Inc. grew its stake in shares of Microchip Technology by 97.4% during the 4th quarter. Tarbox Family Office Inc. now owns 302 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 149 shares during the period. 89.36% of the stock is currently owned by institutional investors.

NASDAQ MCHP traded down $1.94 on Monday, hitting $65.62. The company’s stock had a trading volume of 67,513 shares, compared to its average volume of 5,137,784. The firm has a market cap of $36.48 billion, a P/E ratio of 38.60, a PEG ratio of 0.68 and a beta of 1.56. The company’s 50-day simple moving average is $70.30 and its 200 day simple moving average is $76.82. Microchip Technology has a 52-week low of $63.34 and a 52-week high of $90.00. The company has a current ratio of 1.81, a quick ratio of 1.18 and a debt-to-equity ratio of 1.36.

Microchip Technology Company Profile (Get Rating)

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Earnings History and Estimates for Microchip Technology (NASDAQ:MCHP)

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