Microchip Technology (MCHP) Updates Q4 Earnings Guidance

Microchip Technology (NASDAQ:MCHP) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.30-1.39 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.37. The company issued revenue guidance of $964.4-1.004 billion, compared to the consensus revenue estimate of $1.01 billion.

Several brokerages have recently weighed in on MCHP. Needham & Company LLC increased their target price on shares of Microchip Technology from $120.00 to $130.00 and gave the company a strong-buy rating in a research note on Tuesday, November 7th. Credit Suisse Group reissued an outperform rating and issued a $110.00 target price (up previously from $95.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Zacks Investment Research downgraded shares of Microchip Technology from a buy rating to a hold rating in a research note on Monday, October 23rd. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $120.00 price target on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, ValuEngine downgraded shares of Microchip Technology from a buy rating to a hold rating in a research note on Wednesday, November 15th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $101.24.

Microchip Technology (NASDAQ MCHP) traded up $2.42 during mid-day trading on Tuesday, reaching $91.92. 5,424,886 shares of the company traded hands, compared to its average volume of 1,920,000. The stock has a market cap of $21,390.00, a P/E ratio of 36.77, a PEG ratio of 1.30 and a beta of 1.05. Microchip Technology has a 52 week low of $68.83 and a 52 week high of $99.17. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The company had revenue of $994.10 million for the quarter, compared to the consensus estimate of $992.10 million. During the same quarter last year, the firm posted $1.05 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. analysts predict that Microchip Technology will post 5.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 1.58%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is presently 58.00%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 2,852 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the transaction, the vice president now owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

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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.

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

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