Wall Street analysts expect that Microchip Technology Incorporated (NASDAQ:MCHP) will post earnings of $1.73 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Microchip Technology’s earnings, with the lowest EPS estimate coming in at $1.73 and the highest estimate coming in at $1.75. Microchip Technology reported earnings per share of $1.46 during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.5%. The business is expected to issue its next quarterly earnings results on Thursday, May 6th.
According to Zacks, analysts expect that Microchip Technology will report full year earnings of $6.47 per share for the current fiscal year, with EPS estimates ranging from $6.46 to $6.49. For the next fiscal year, analysts anticipate that the business will report earnings of $7.45 per share, with EPS estimates ranging from $6.97 to $7.80. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, February 4th. The semiconductor company reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.17. Microchip Technology had a net margin of 11.62% and a return on equity of 25.02%.
Several research firms have commented on MCHP. Credit Suisse Group lifted their target price on shares of Microchip Technology from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Smith Barney Citigroup cut shares of Microchip Technology from a “buy” rating to a “neutral” rating in a report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut shares of Microchip Technology from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $128.00 to $134.00 in a report on Friday, November 6th. Zacks Investment Research cut shares of Microchip Technology from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Thursday, November 12th. Finally, Rosenblatt Securities lifted their price target on shares of Microchip Technology from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $144.12.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $589,000. Catalyst Capital Advisors LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $25,000. First PREMIER Bank purchased a new position in shares of Microchip Technology during the 4th quarter valued at $28,000. Exchange Traded Concepts LLC purchased a new position in shares of Microchip Technology during the 4th quarter valued at $35,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Microchip Technology during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 94.10% of the company’s stock.
Shares of Microchip Technology stock traded down $4.24 during mid-day trading on Thursday, hitting $150.95. 15,653 shares of the stock were exchanged, compared to its average volume of 2,239,196. Microchip Technology has a 12 month low of $53.15 and a 12 month high of $166.67. The company has a 50-day simple moving average of $149.28 and a 200 day simple moving average of $125.35. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.74 and a current ratio of 1.07. The company has a market capitalization of $40.65 billion, a P/E ratio of 66.32, a P/E/G ratio of 1.74 and a beta of 1.69.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 8th. Stockholders of record on Monday, February 22nd will be given a dividend of $0.39 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 19th. Microchip Technology’s payout ratio is 28.38%.
Microchip Technology Company Profile
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 and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.
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