$1.35 Earnings Per Share Expected for Microchip Technology Incorporated (MCHP) This Quarter

Brokerages expect that Microchip Technology Incorporated (NASDAQ:MCHP) will report earnings of $1.35 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Microchip Technology’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $1.35. Microchip Technology posted earnings per share of $1.05 in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is scheduled to report its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Microchip Technology will report full year earnings of $5.45 per share for the current year, with EPS estimates ranging from $5.39 to $5.51. For the next year, analysts expect that the firm will report earnings of $5.87 per share, with EPS estimates ranging from $5.56 to $6.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. Microchip Technology’s revenue was up 16.2% compared to the same quarter last year.

Several equities analysts recently weighed in on the company. Mizuho reiterated a “neutral” rating and set a $84.00 target price (up from $80.00) on shares of Microchip Technology in a research report on Wednesday, August 9th. Morgan Stanley reiterated an “overweight” rating and set a $94.00 target price on shares of Microchip Technology in a research report on Wednesday, September 20th. Needham & Company LLC lifted their target price on Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 7th. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Zacks Investment Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Five 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.41.

Microchip Technology (NASDAQ:MCHP) traded down $0.70 during midday trading on Friday, reaching $86.30. The company had a trading volume of 2,514,452 shares, compared to its average volume of 2,535,536. The stock has a market capitalization of $20,080.00, a P/E ratio of 18.43, a PEG ratio of 1.39 and a beta of 0.99. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. Microchip Technology has a 12 month low of $62.21 and a 12 month high of $95.92.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be given a $0.3625 dividend. This represents a $1.45 annualized dividend and a dividend yield of 1.68%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s payout ratio is presently 58.00%.

In other news, VP Stephen V. Drehobl sold 2,852 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,801 shares of the business’s 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 disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Grove Bank & Trust lifted its position in shares of Microchip Technology by 15.8% in the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after acquiring an additional 190 shares in the last quarter. Zions Bancorporation lifted its position 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 buying an additional 836 shares in the last quarter. Amica Retiree Medical Trust purchased a new stake in shares of Microchip Technology in the third quarter worth about $121,000. Smithfield Trust Co. lifted its position in shares of Microchip Technology by 0.4% in the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock worth $126,000 after buying an additional 7 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Microchip Technology in the third quarter worth about $146,000.

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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.

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