Equities analysts predict that Microchip Technology Incorporated (NASDAQ:MCHP) will announce earnings of $1.35 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Microchip Technology’s earnings, with the lowest EPS estimate coming in at $1.29 and the highest estimate coming in at $1.36. Microchip Technology posted earnings of $0.94 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 43.6%. The firm is expected to issue its next quarterly earnings report on Monday, November 6th.

According to Zacks, analysts expect that Microchip Technology will report full year earnings of $5.26 per share for the current fiscal year, with EPS estimates ranging from $5.04 to $5.36. For the next year, analysts anticipate that the business will post earnings of $5.67 per share, with EPS estimates ranging from $5.25 to $5.86. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.14 by $0.17. The business had revenue of $972.10 million during the quarter, compared to analyst estimates of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share.

A number of brokerages have recently weighed in on MCHP. B. Riley restated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a research note on Friday, August 4th. Mizuho restated a “neutral” rating and issued a $84.00 target price (up from $80.00) on shares of Microchip Technology in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $94.00 target price (up from $92.00) on shares of Microchip Technology in a research note on Friday, August 4th. BidaskClub upgraded Microchip Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Raymond James Financial, Inc. began coverage on Microchip Technology in a research note on Friday, June 16th. They issued an “outperform” rating and a $95.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $88.80.

COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was stolen and republished in violation of U.S. & international copyright and trademark laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/16/1-35-eps-expected-for-microchip-technology-incorporated-mchp-this-quarter.html.

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $200,876.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 3,076 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the completion of the sale, the vice president now owns 14,263 shares in the company, valued at approximately $1,167,997.07. The disclosure for this sale can be found here. Insiders sold a total of 6,829 shares of company stock worth $561,905 in the last 90 days. Company insiders own 2.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. bought a new stake in Microchip Technology in the 2nd quarter valued at approximately $335,000. Achmea Investment Management B.V. lifted its stake in Microchip Technology by 76.3% in the 2nd quarter. Achmea Investment Management B.V. now owns 26,657 shares of the semiconductor company’s stock valued at $2,055,000 after acquiring an additional 11,541 shares in the last quarter. RNC Capital Management LLC lifted its stake in Microchip Technology by 3.2% in the 2nd quarter. RNC Capital Management LLC now owns 427,000 shares of the semiconductor company’s stock valued at $32,956,000 after acquiring an additional 13,083 shares in the last quarter. Toronto Dominion Bank lifted its stake in Microchip Technology by 32.3% in the 2nd quarter. Toronto Dominion Bank now owns 77,852 shares of the semiconductor company’s stock valued at $6,007,000 after acquiring an additional 19,026 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its stake in Microchip Technology by 3.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 225,420 shares of the semiconductor company’s stock valued at $17,398,000 after acquiring an additional 7,760 shares in the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.

Microchip Technology (MCHP) opened at 89.62 on Friday. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 48.29 and a beta of 1.04. The stock’s 50 day moving average is $84.24 and its 200 day moving average is $79.36. Microchip Technology has a 52-week low of $57.52 and a 52-week high of $90.57.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were paid a $0.362 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.45 annualized dividend and a yield of 1.62%. Microchip Technology’s payout ratio is presently 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.

Get a free copy of the Zacks research report on Microchip Technology (MCHP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.