Microchip Technology (MCHP) to Release Quarterly Earnings on Monday

Microchip Technology (NASDAQ:MCHP) will post its quarterly earnings results after the market closes on Monday, May 6th. Analysts expect Microchip Technology to post earnings of $0.50 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The business’s revenue was down 18.6% compared to the same quarter last year. On average, analysts expect Microchip Technology to post $5 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Microchip Technology Price Performance

Shares of NASDAQ:MCHP opened at $91.36 on Friday. The company has a 50-day simple moving average of $87.88 and a 200-day simple moving average of $84.95. Microchip Technology has a one year low of $68.75 and a one year high of $94.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. The stock has a market capitalization of $49.37 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.71 and a beta of 1.60.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCHP. Needham & Company LLC upped their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. TD Cowen boosted their price target on shares of Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, February 2nd. Susquehanna reiterated a “positive” rating and set a $100.00 price target on shares of Microchip Technology in a research note on Monday, April 8th. UBS Group dropped their price target on shares of Microchip Technology from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Microchip Technology from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $92.75.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares in the company, valued at approximately $150,276. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the transaction, the chief financial officer now owns 32,893 shares in the company, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karlton D. Johnson sold 370 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. 2.07% of the stock is owned by insiders.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.