Brokerages forecast that Microchip Technology Incorporated (NASDAQ:MCHP) will post $992.17 million in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Microchip Technology’s earnings, with the lowest sales estimate coming in at $991.90 million and the highest estimate coming in at $993.40 million. Microchip Technology posted sales of $834.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Microchip Technology will report full year sales of $992.17 million for the current financial year, with estimates ranging from $3.97 billion to $3.99 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.19 billion per share, with estimates ranging from $4.08 billion to $4.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. Microchip Technology’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share.
Shares of Microchip Technology (NASDAQ MCHP) opened at $87.00 on Friday. The company has a market capitalization of $20,349.73, a P/E ratio of 18.43, a P/E/G ratio of 1.39 and a beta of 1.00. Microchip Technology has a 52-week low of $60.85 and a 52-week high of $95.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a $0.3625 dividend. This represents a $1.45 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, November 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 58.00%.
In other news, VP Stephen V. Drehobl sold 2,852 shares of the company’s stock in a transaction that occurred on 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 directly owns 15,767 shares of the company’s stock, valued at approximately $1,445,203.22. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $91.66, for a total value of $165,079.66. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.
Several hedge funds have recently made changes to their positions in MCHP. Grove Bank & Trust raised its stake in shares of Microchip Technology by 15.8% during the 2nd quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock worth $107,000 after buying an additional 190 shares during the period. Zions Bancorporation raised its stake in shares of Microchip Technology by 215.5% during 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 period. Amica Retiree Medical Trust acquired a new position in shares of Microchip Technology during the 3rd quarter worth approximately $121,000. Smithfield Trust Co. raised its stake in shares of Microchip Technology by 0.4% during the 2nd quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after buying an additional 7 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Microchip Technology during the 3rd quarter worth approximately $146,000.
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About Microchip Technology
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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