FY2028 Earnings Estimate for MCHP Issued By Zacks Research

Microchip Technology Incorporated (NASDAQ:MCHP) – Equities research analysts at Zacks Research issued their FY2028 earnings per share estimates for shares of Microchip Technology in a research report issued on Thursday, May 29th. Zacks Research analyst R. Department anticipates that the semiconductor company will post earnings per share of $2.65 for the year. The consensus estimate for Microchip Technology’s current full-year earnings is $1.03 per share.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $970.50 million during the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The firm’s quarterly revenue was down 26.8% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS.

A number of other equities analysts have also issued reports on the company. Bank of America raised Microchip Technology from an “underperform” rating to a “neutral” rating and set a $56.00 price target for the company in a research note on Friday, May 9th. Stifel Nicolaus increased their price objective on Microchip Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Morgan Stanley increased their price objective on Microchip Technology from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. KeyCorp cut their price objective on Microchip Technology from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, TD Cowen increased their price objective on Microchip Technology from $35.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.68.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $57.22 on Monday. The stock has a fifty day moving average price of $48.55 and a two-hundred day moving average price of $54.86. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25. The firm has a market cap of $30.86 billion, a P/E ratio of 102.18 and a beta of 1.42. Microchip Technology has a 1 year low of $34.13 and a 1 year high of $98.10.

Microchip Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.455 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.18%. Microchip Technology’s payout ratio is currently -18,200.00%.

Insider Activity

In related news, CFO James Eric Bjornholt sold 2,015 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $55.78, for a total transaction of $112,396.70. Following the completion of the sale, the chief financial officer now directly owns 34,313 shares in the company, valued at approximately $1,913,979.14. This trade represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karlton D. Johnson sold 494 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director now owns 3,468 shares of the company’s stock, valued at approximately $210,472.92. This represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Microchip Technology

Several hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. increased its position in Microchip Technology by 0.5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock worth $2,254,000 after buying an additional 209 shares during the last quarter. Northwest Bank & Trust Co lifted its stake in shares of Microchip Technology by 3.0% in the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock worth $424,000 after buying an additional 217 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Microchip Technology by 10.5% in the first quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company’s stock worth $114,000 after buying an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Microchip Technology by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company’s stock worth $2,238,000 after buying an additional 230 shares during the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Microchip Technology by 1.0% in the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company’s stock worth $1,207,000 after buying an additional 242 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.