Wall Street brokerages expect Microchip Technology Inc. (NASDAQ:MCHP) to announce earnings of $1.44 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Microchip Technology’s earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.46. Microchip Technology posted earnings of $1.31 per share during the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The business is scheduled to issue its next earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Microchip Technology will report full-year earnings of $5.91 per share for the current financial year, with EPS estimates ranging from $5.85 to $6.09. For the next year, analysts expect that the business will post earnings of $6.28 per share, with EPS estimates ranging from $6.08 to $6.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. Microchip Technology had a net margin of 6.41% and a return on equity of 38.62%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $984.80 million. During the same period in the previous year, the firm earned $1.16 earnings per share. Microchip Technology’s revenue was up 11.0% compared to the same quarter last year.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Goldman Sachs Group upgraded shares of Microchip Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.57 to $108.00 in a report on Thursday, March 8th. Mizuho raised shares of Microchip Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $110.00 in a research report on Monday, March 5th. KeyCorp raised shares of Microchip Technology from a “sector weight” rating to an “overweight” rating in a research report on Friday, March 2nd. Finally, Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, April 3rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $104.61.
Microchip Technology traded up $0.81, reaching $94.89, during trading on Monday, Marketbeat Ratings reports. The company had a trading volume of 115,868 shares, compared to its average volume of 2,209,629. Microchip Technology has a 12-month low of $75.80 and a 12-month high of $101.48. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.43 and a current ratio of 1.66.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Monday, May 21st will be given a dividend of $0.3635 per share. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, May 18th.
In other news, VP Stephen V. Drehobl sold 4,696 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $93.55, for a total transaction of $439,310.80. Following the transaction, the vice president now directly owns 19,711 shares of the company’s stock, valued at $1,843,964.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Esther Johnson sold 2,275 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $97.90, for a total transaction of $222,722.50. Following the transaction, the director now directly owns 6,081 shares in the company, valued at $595,329.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,403 shares of company stock worth $3,260,302. Corporate insiders own 2.13% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC acquired a new position in shares of Microchip Technology during the first quarter worth $131,000. Squar Milner Financial Services LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth $205,000. Hyman Charles D bought a new stake in shares of Microchip Technology in the first quarter worth $201,000. Twin Tree Management LP increased its stake in shares of Microchip Technology by 126.2% in the fourth quarter. Twin Tree Management LP now owns 2,210 shares of the semiconductor company’s stock worth $194,000 after buying an additional 10,646 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Microchip Technology in the fourth quarter worth $198,000.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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