What is Zacks Research’s Estimate for MCHP FY2028 Earnings?

Microchip Technology Incorporated (NASDAQ:MCHP) – Zacks Research issued their FY2028 earnings per share estimates for Microchip Technology in a report released on Thursday, May 29th. Zacks Research analyst R. Department forecasts that the semiconductor company will post earnings of $2.65 per share for the year. The consensus estimate for Microchip Technology’s current full-year earnings is $1.03 per share.

Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $970.50 million for the quarter, compared to analyst estimates of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Microchip Technology’s revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

Several other research analysts also recently issued reports on the stock. Rosenblatt Securities boosted their price objective on shares of Microchip Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler restated an “overweight” rating and set a $65.00 price target (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Morgan Stanley raised their price objective on Microchip Technology from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Truist Financial boosted their price objective on Microchip Technology from $43.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, May 9th. Finally, UBS Group upped their target price on Microchip Technology from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Microchip Technology has an average rating of “Moderate Buy” and a consensus price target of $67.68.

Microchip Technology Stock Performance

NASDAQ MCHP opened at $57.22 on Monday. The company’s fifty day moving average is $48.55 and its two-hundred day moving average is $54.86. Microchip Technology has a 52-week low of $34.13 and a 52-week high of $98.10. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.25 and a quick ratio of 1.23. The firm has a market capitalization of $30.86 billion, a price-to-earnings ratio of 102.18 and a beta of 1.42.

Microchip Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, May 22nd. Microchip Technology’s payout ratio is -18,200.00%.

Insider Buying and Selling

In related news, Director Karlton D. Johnson sold 494 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total transaction of $29,980.86. Following the completion of the sale, the director now directly owns 3,468 shares of the company’s stock, valued at $210,472.92. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Eric Bjornholt sold 2,015 shares of Microchip Technology stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer now owns 34,313 shares of the company’s stock, valued at approximately $1,913,979.14. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MCHP. Federated Hermes Inc. grew its holdings in Microchip Technology by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock worth $2,254,000 after acquiring an additional 209 shares during the last quarter. Northwest Bank & Trust Co lifted its position in shares of Microchip Technology by 3.0% during the fourth quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock worth $424,000 after purchasing an additional 217 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Microchip Technology by 10.5% during the first quarter. Clearstead Trust LLC now owns 2,356 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 224 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Microchip Technology by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 46,235 shares of the semiconductor company’s stock valued at $2,238,000 after purchasing an additional 230 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Microchip Technology by 1.0% in the first quarter. Greenleaf Trust now owns 24,933 shares of the semiconductor company’s stock valued at $1,207,000 after purchasing an additional 242 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.