$1.38 EPS Expected for Microchip Technology Inc. (MCHP) This Quarter

Equities analysts expect Microchip Technology Inc. (NASDAQ:MCHP) to post $1.38 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Microchip Technology’s earnings, with the highest EPS estimate coming in at $1.42 and the lowest estimate coming in at $1.32. Microchip Technology reported earnings of $1.16 per share during the same quarter last year, which suggests a positive year over year growth rate of 19%. The business is expected to report its next quarterly earnings report on Tuesday, May 8th.

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 fiscal year, analysts forecast that the firm will post earnings of $5.87 per share, with EPS estimates ranging from $5.56 to $6.16. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis.

MCHP has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $100.00 target price (up from $94.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Friday, November 10th. Jefferies Group upped their price target on shares of Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. B. Riley reaffirmed a “buy” rating and issued a $123.00 price target (up previously from $120.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Finally, BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Six 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 stock. The company has a consensus rating of “Buy” and an average price target of $101.56.

In related 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 transaction, the vice president now owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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. Corporate insiders own 2.13% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zions Bancorporation lifted its position in shares of Microchip Technology by 215.5% in the 3rd quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after buying an additional 836 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in Microchip Technology during the 3rd quarter worth approximately $121,000. Valeo Financial Advisors LLC acquired a new position in Microchip Technology during the 3rd quarter worth approximately $146,000. Benjamin F. Edwards & Company Inc. boosted its position in Microchip Technology by 608.4% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 1,807 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in Microchip Technology during the 4th quarter worth approximately $198,000.

Microchip Technology (MCHP) traded down $7.32 during mid-day trading on Wednesday, hitting $84.60. 7,682,817 shares of the stock traded hands, compared to its average volume of 2,476,968. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. Microchip Technology has a twelve month low of $69.76 and a twelve month high of $99.17. The stock has a market cap of $20,410.00, a price-to-earnings ratio of 34.06, a P/E/G ratio of 1.25 and a beta of 1.05.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.363 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a dividend yield of 1.72%. Microchip Technology’s dividend payout ratio is presently 58.00%.

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

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