Analysts expect Microchip Technology (NASDAQ:MCHP) to report earnings per share of $1.35 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microchip Technology’s earnings, with estimates ranging from $1.34 to $1.35. Microchip Technology reported earnings per share of $1.16 during the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The company is expected to report its next earnings results on Tuesday, May 8th.
On average, analysts expect that Microchip Technology will report full-year earnings of $5.43 per share for the current financial year, with EPS estimates ranging from $5.42 to $5.43. For the next year, analysts expect that the company will post earnings of $5.87 per share, with EPS estimates ranging from $5.64 to $6.17. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. The business had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. During the same period in the prior year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year.
A number of equities analysts recently issued reports on the company. BidaskClub lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, April 3rd. Morgan Stanley decreased their price objective on Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Rosenblatt Securities reissued a “buy” rating on shares of Microchip Technology in a report on Tuesday, March 6th. Finally, ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Microchip Technology has an average rating of “Buy” and a consensus target price of $103.99.
Shares of MCHP stock opened at $88.00 on Monday. Microchip Technology has a 12-month low of $73.87 and a 12-month high of $101.48. The company has a market capitalization of $20,872.94, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.98 and a quick ratio of 2.33.
In other news, CEO Steve Sanghi sold 20,124 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $94.80, for a total transaction of $1,907,755.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Eric Bjornholt sold 2,109 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $84.18, for a total value of $177,535.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,667 shares of company stock valued at $3,132,552. Corporate insiders own 2.13% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of Microchip Technology by 10.9% during the 4th quarter. Huntington National Bank now owns 5,594 shares of the semiconductor company’s stock worth $492,000 after acquiring an additional 550 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of Microchip Technology by 15.9% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 4,878 shares of the semiconductor company’s stock worth $429,000 after acquiring an additional 668 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Microchip Technology by 3.7% during the 4th quarter. Raymond James Trust N.A. now owns 18,601 shares of the semiconductor company’s stock worth $1,634,000 after acquiring an additional 671 shares in the last quarter. Covenant Asset Management LLC boosted its stake in shares of Microchip Technology by 4.7% during the 4th quarter. Covenant Asset Management LLC now owns 15,171 shares of the semiconductor company’s stock worth $1,333,000 after acquiring an additional 675 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of Microchip Technology by 7.4% during the 4th quarter. Moors & Cabot Inc. now owns 10,103 shares of the semiconductor company’s stock worth $888,000 after acquiring an additional 700 shares in the last quarter.
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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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