Microchip Technology Inc. (NASDAQ:MCHP) – Analysts at Jefferies Financial Group dropped their Q4 2019 earnings per share estimates for Microchip Technology in a report released on Wednesday, February 6th. Jefferies Financial Group analyst M. Lipacis now anticipates that the semiconductor company will post earnings per share of $1.24 for the quarter, down from their prior estimate of $1.47. Jefferies Financial Group currently has a “Buy” rating and a $102.00 target price on the stock. Jefferies Financial Group also issued estimates for Microchip Technology’s Q1 2020 earnings at $1.47 EPS, Q2 2020 earnings at $1.65 EPS, Q3 2020 earnings at $1.69 EPS, Q4 2020 earnings at $1.66 EPS, FY2020 earnings at $6.47 EPS and FY2021 earnings at $7.77 EPS.
MCHP has been the topic of a number of other research reports. BidaskClub raised shares of Microchip Technology from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Microchip Technology in a research note on Thursday, November 8th. B. Riley cut their price target on shares of Microchip Technology from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th. Nomura set a $95.00 price target on shares of Microchip Technology and gave the stock a “buy” rating in a research note on Thursday, November 8th. Finally, Bank of America cut their target price on shares of Microchip Technology from $86.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $103.95.
NASDAQ:MCHP opened at $88.96 on Monday. The company has a current ratio of 2.92, a quick ratio of 1.83 and a debt-to-equity ratio of 2.04. The company has a market cap of $20.64 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.11 and a beta of 1.21. Microchip Technology has a fifty-two week low of $60.70 and a fifty-two week high of $104.20.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.21. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. Microchip Technology’s revenue was up 42.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in MCHP. Vanguard Group Inc. grew its holdings in Microchip Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 26,236,361 shares of the semiconductor company’s stock worth $2,070,312,000 after acquiring an additional 237,329 shares in the last quarter. Vanguard Group Inc grew its holdings in Microchip Technology by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock worth $2,070,312,000 after acquiring an additional 237,329 shares in the last quarter. Dodge & Cox acquired a new position in Microchip Technology during the 3rd quarter worth $827,774,000. Massachusetts Financial Services Co. MA grew its holdings in Microchip Technology by 4.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock worth $227,564,000 after acquiring an additional 134,749 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in Microchip Technology by 163.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 3,158,240 shares of the semiconductor company’s stock worth $249,217,000 after acquiring an additional 1,960,048 shares in the last quarter.
In related news, VP Stephen V. Drehobl sold 4,271 shares of Microchip Technology stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total transaction of $307,768.26. Following the sale, the vice president now owns 17,173 shares of the company’s stock, valued at approximately $1,237,486.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 1,866 shares of Microchip Technology stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $72.06, for a total transaction of $134,463.96. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 21st will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 28.13%.
Microchip Technology Company Profile
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; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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