Microchip Technology (MCHP) Scheduled to Post Earnings on Thursday
Microchip Technology (NASDAQ:MCHP) is scheduled to be releasing its earnings data on Thursday, July 31st. Microchip Technology has set its Q1 guidance at $0.64-0.68 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $493.40 million for the quarter, compared to the consensus estimate of $490.00 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect Microchip Technology to post $2.77 EPS for the current fiscal year and $3.07 EPS for the next fiscal year.
Shares of Microchip Technology (NASDAQ:MCHP) traded down 0.15% on Wednesday, hitting $46.18. 142,286 shares of the company’s stock traded hands. Microchip Technology has a 52 week low of $38.44 and a 52 week high of $50.04. The stock has a 50-day moving average of $48.72 and a 200-day moving average of $47.03. The company has a market cap of $9.249 billion and a price-to-earnings ratio of 25.41.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Microchip Technology in a research note on Thursday, May 8th. They now have a $49.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Microchip Technology in a research note on Wednesday, May 7th. They now have a $45.00 price target on the stock, up previously from $42.00. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.30.
Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications.
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