Analysts Expect Microchip Technology Incorporated (MCHP) to Announce $1.35 Earnings Per Share

Equities research analysts forecast that Microchip Technology Incorporated (NASDAQ:MCHP) will report earnings of $1.35 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Microchip Technology’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.37. Microchip Technology reported earnings of $1.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.6%. The company is expected to report its next quarterly earnings report on Tuesday, February 6th.

On average, analysts expect that Microchip Technology will report full-year earnings of $5.45 per share for the current year, with EPS estimates ranging from $5.39 to $5.51. For the next year, analysts expect that the business will post earnings of $5.87 per share, with EPS estimates ranging from $5.56 to $6.16. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.94 EPS.

A number of research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Friday, August 4th. Mizuho reissued a “neutral” rating and set a $84.00 price target (up from $80.00) on shares of Microchip Technology in a research report on Wednesday, August 9th. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group reissued a “buy” rating and set a $94.00 price target (up from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, ValuEngine cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $99.41.

Microchip Technology (MCHP) traded up $0.41 during trading hours on Friday, hitting $86.99. 3,665,300 shares of the stock traded hands, compared to its average volume of 2,533,187. Microchip Technology has a 12-month low of $60.77 and a 12-month high of $95.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The stock has a market cap of $21,187.15, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a yield of 1.67%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s payout ratio is 58.00%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology 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 transaction, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation raised its stake in Microchip Technology by 215.5% during the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 836 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in Microchip Technology during the third quarter valued at $121,000. Grove Bank & Trust raised its stake in Microchip Technology by 15.8% during the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 190 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Microchip Technology during the third quarter valued at $146,000. Finally, Smithfield Trust Co. raised its stake in Microchip Technology by 0.4% during the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter.

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About Microchip Technology

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

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