Analysts Set Expectations for Microchip Technology Inc.’s Q4 2018 Earnings (MCHP)

Microchip Technology Inc. (NASDAQ:MCHP) – Investment analysts at Jefferies Group dropped their Q4 2018 EPS estimates for shares of Microchip Technology in a research note issued to investors on Wednesday. Jefferies Group analyst M. Lipacis now expects that the semiconductor company will earn $1.25 per share for the quarter, down from their previous estimate of $1.29. Jefferies Group has a “Buy” rating and a $110.00 price target on the stock. Jefferies Group also issued estimates for Microchip Technology’s FY2020 earnings at $5.93 EPS.

Several other analysts also recently commented on the stock. Argus reiterated a “buy” rating and issued a $90.00 target price (up previously from $79.90) on shares of Microchip Technology in a report on Friday. Morgan Stanley lowered their target price on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Bank of America lowered their target price on shares of Microchip Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research downgraded shares of Microchip Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $102.35.

Shares of Microchip Technology (NASDAQ MCHP) opened at $81.04 on Monday. The company has a market cap of $18,991.17, a PE ratio of 83.55, a PEG ratio of 1.08 and a beta of 1.05. The company has a quick ratio of 2.33, a current ratio of 2.98 and a debt-to-equity ratio of 0.95. Microchip Technology has a 1-year low of $69.76 and a 1-year high of $99.17.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million during the quarter, compared to the consensus estimate of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 earnings per share.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation increased its stake in shares of Microchip Technology by 215.5% in the third quarter. Zions Bancorporation now owns 1,224 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 836 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in shares of Microchip Technology in the third quarter worth about $121,000. Valeo Financial Advisors LLC purchased a new position in shares of Microchip Technology in the third quarter worth about $146,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Microchip Technology by 608.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Squar Milner Financial Services LLC purchased a new position in shares of Microchip Technology in the fourth quarter worth about $205,000.

In other news, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology 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 completion of the transaction, the vice president now owns 15,767 shares of the company’s stock, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be issued a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 149.49%.

TRADEMARK VIOLATION NOTICE: “Analysts Set Expectations for Microchip Technology Inc.’s Q4 2018 Earnings (MCHP)” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2018/02/12/analysts-set-expectations-for-microchip-technology-inc-s-q4-2018-earnings-mchp.html.

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)

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

Leave a Reply