Analysts expect Microchip Technology Inc. (NASDAQ:MCHP) to post $992.17 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Microchip Technology’s earnings, with the lowest sales estimate coming in at $991.90 million and the highest estimate coming in at $993.40 million. Microchip Technology posted sales of $834.37 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The company is expected to announce its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Microchip Technology will report full year sales of $992.17 million for the current financial year, with estimates ranging from $3.97 billion to $3.99 billion. For the next year, analysts anticipate that the firm will post sales of $4.19 billion per share, with estimates ranging from $4.08 billion to $4.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share.
Microchip Technology (MCHP) opened at $92.26 on Friday. The stock has a market cap of $21,470.00, a P/E ratio of 36.90, a PEG ratio of 1.47 and a beta of 1.00. Microchip Technology has a 52 week low of $62.21 and a 52 week high of $95.92. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85.
In other Microchip Technology news, VP Stephen V. Drehobl sold 2,852 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,801 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after buying an additional 1,042,622 shares during the last quarter. State Street Corp increased its holdings in Microchip Technology by 0.7% during the second quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock valued at $690,652,000 after buying an additional 58,577 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Microchip Technology by 7.8% during the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock valued at $781,389,000 after buying an additional 630,311 shares during the last quarter. Fred Alger Management Inc. increased its stake in shares of Microchip Technology by 80.9% in the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock worth $258,479,000 after purchasing an additional 1,497,699 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Microchip Technology by 1.8% in the second quarter. Northern Trust Corp now owns 3,091,642 shares of the semiconductor company’s stock worth $238,614,000 after purchasing an additional 53,227 shares in the last quarter.
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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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