Brokerages forecast Microchip Technology Incorporated (NASDAQ: MCHP) to post earnings per share of $ 2.11 for the current quarter, Zacks Investment Research reports. Seven analysts have estimated the earnings of Microchip Technology. The highest EPS estimate is $ 2.13 and the lowest is $ 2.11. Microchip Technology reported earnings of $ 1.56 per share in the same quarter last year, suggesting a positive growth rate of 35.3% year-over-year. The company is expected to publish its next results on Thursday, November 4.
According to Zacks, analysts predict that Microchip Technology will report annual earnings of $ 8.46 per share for the current fiscal year, with EPS estimates ranging from $ 8.36 to $ 8.58. For the next fiscal year, analysts predict the company will report earnings of $ 9.13 per share, with EPS estimates ranging from $ 8.86 to $ 9.37. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts who provide coverage for Microchip Technology.
Microchip Technology (NASDAQ: MCHP) last released its quarterly results on Tuesday, August 3. The semiconductor company reported EPS of $ 1.98 for the quarter, beating analyst consensus estimates of $ 1.91 by $ 0.07. The company posted revenue of $ 1.57 billion for the quarter, compared to analysts’ estimates of $ 1.55 billion. Microchip Technology recorded a return on equity of 32.10% and a net margin of 8.40%. During the same period last year, the company made earnings per share of $ 1.56.
The MCHP has been the subject of several research reports. BMO Capital Markets raised its price target on Microchip technology from $ 165.00 to $ 175.00 and rated the stock “outperform” in a research report released on Wednesday, August 4. Mizuho downgraded Microchip Technology from a “buy” rating to a “neutral” rating and lowered its price target for the company from $ 165.00 to $ 160.00 in a research note on Thursday, July 15 . Morgan Stanley raised its price target on Microchip Technology from $ 177.00 to $ 190.00 and rated the stock “overweight” in a research report published on Monday, August 2. Needham & Company LLC raised its price target on Microchip Technology from $ 200.00 to $ 210.00 and gave the stock a “buy” rating in a report released on Wednesday, August 4. Finally, KeyCorp increased its price target on Microchip Technology from $ 185.00 to $ 190.00 and assigned the company an “overweight” rating in a Wednesday August 4 research note. Six equity research analysts rated the stock with a conservation rating, thirteen gave a buy rating, and one gave the company’s stock a strong buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $ 177.17.
In addition, director Wade F. Meyercord sold 500 shares of the company in a transaction on Tuesday, August 24. The stock was sold for an average price of $ 148.83, for a total trade of $ 74,415.00. The transaction was disclosed in a file with the SEC, accessible through the SEC’s website. In addition, director Wade F. Meyercord sold 692 shares of Microchip Technology in a trade dated Monday, August 16. The stock was sold for an average price of $ 151.80, for a total value of $ 105,045.60. Disclosure of this sale can be found here. 2.03% of the shares are held by company insiders.
Several hedge funds have recently bought and sold shares of MCHP. IFP Advisors Inc strengthened its position in Microchip Technology by 2.9% in the 1st quarter. IFP Advisors Inc now owns 2,367 shares of the semiconductor company valued at $ 366,000 after buying 67 more shares in the last quarter. Assetmark Inc. increased its stake in Microchip Technology by 45.7% during the 2nd quarter. Assetmark Inc. now owns 220 shares of the semiconductor company valued at $ 33,000 after purchasing 69 additional shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its stake in Microchip Technology by 0.8% during the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 9,380 shares of the semiconductor company valued at $ 1,405,000 after purchasing 71 additional shares in the last quarter. Boston Family Office LLC increased its stake in Microchip Technology by 1.5% during the 2nd quarter. Boston Family Office LLC now owns 4,921 shares of the semiconductor company valued at $ 737,000 after purchasing 71 more shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Microchip Technology by 7.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,119 shares of the semiconductor company valued at $ 174,000 after purchasing 74 additional shares in the last quarter. 89.22% of the shares are held by hedge funds and other institutional investors.
NASDAQ: MCHP opened at $ 157.48 on Friday. The company’s 50-day mobile average price is $ 147.23, and its 200-day mobile average price is $ 150.07. The company has a market cap of $ 43.16 billion, a P / E ratio of 92.64, a PEG ratio of 1.11 and a beta of 1.68. Microchip Technology has a 52 week low of $ 95.53 and a 52 week high of $ 166.67. The company has a quick ratio of 1.35, a current ratio of 1.98, and a debt ratio of 1.54.
Microchip Technology shares are expected to be split on Tuesday, September 21. The 2-1 split was announced on Tuesday, September 21. The newly created shares will be payable to shareholders after market close on Tuesday, September 21.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 3. Shareholders of record on Friday August 20 received a dividend of $ 0.437. This is a positive change from Microchip Technology’s previous quarterly dividend of $ 0.41. The ex-dividend date of this dividend was Thursday, August 19. This represents an annualized dividend of $ 1.75 and a return of 1.11%. Microchip Technology’s dividend payout ratio is currently 29.86%.
About microchip technology
Microchip Technology, Inc. engages in the supply of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves the design, development, manufacture and marketing of microcontrollers, development tools and analog products, interface, mixed signal, connectivity and synchronization.
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