Analysts forecast that Microchip Technology Incorporated (NASDAQ:MCHP) will post earnings of $1.35 per share for the current quarter, Zacks reports. Six analysts have made estimates for Microchip Technology’s earnings. The highest EPS estimate is $1.36 and the lowest is $1.29. Microchip Technology reported earnings per share of $0.94 during the same quarter last year, which suggests a positive year over year growth rate of 43.6%. The business is scheduled to report its next earnings report on Monday, November 6th.
On average, analysts expect that Microchip Technology will report full year earnings of $5.26 per share for the current year, with EPS estimates ranging from $5.04 to $5.36. For the next fiscal year, analysts anticipate that the business will report earnings of $5.67 per share, with EPS estimates ranging from $5.25 to $5.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The company had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 21.6% on a year-over-year basis.
Several equities analysts have recently commented on MCHP shares. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. B. Riley reaffirmed a “buy” rating and set a $115.00 target price on shares of Microchip Technology in a report on Tuesday, June 6th. Stifel Nicolaus upped their target price on Microchip Technology from $88.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, June 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $102.00 target price (up from $100.00) on shares of Microchip Technology in a report on Tuesday, June 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $90.00 target price on shares of Microchip Technology in a report on Wednesday, June 7th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $88.80.
In other Microchip Technology news, VP Stephen V. Drehobl sold 3,076 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the transaction, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,167,997.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wade F. Meyercord sold 1,300 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,829 shares of company stock valued at $561,905. 2.13% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MCHP. Janus Henderson Group PLC boosted its stake in Microchip Technology by 2,959.9% during the 2nd quarter. Janus Henderson Group PLC now owns 8,073,264 shares of the semiconductor company’s stock valued at $623,093,000 after purchasing an additional 7,809,422 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Microchip Technology by 66.5% during the 2nd quarter. Principal Financial Group Inc. now owns 6,276,677 shares of the semiconductor company’s stock valued at $484,434,000 after purchasing an additional 2,507,707 shares in the last quarter. Fred Alger Management Inc. boosted its stake in Microchip Technology by 80.9% during the 2nd quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after purchasing an additional 1,497,699 shares in the last quarter. Vanguard Group Inc. boosted its stake in Microchip Technology by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after purchasing an additional 1,042,622 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Microchip Technology by 75.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,141 shares of the semiconductor company’s stock valued at $185,475,000 after purchasing an additional 1,033,992 shares in the last quarter. 98.68% of the stock is owned by hedge funds and other institutional investors.
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Shares of Microchip Technology (NASDAQ:MCHP) traded down 0.03% on Friday, hitting $90.98. The company’s stock had a trading volume of 2,188,805 shares. Microchip Technology has a 1-year low of $57.52 and a 1-year high of $91.83. The company has a 50 day moving average of $84.53 and a 200 day moving average of $79.58. The firm has a market cap of $21.17 billion, a PE ratio of 49.02 and a beta of 1.04.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 21st were issued a $0.362 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, August 17th. Microchip Technology’s dividend payout ratio is 77.54%.
Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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