Microchip Technology (NASDAQ:MCHP) Issues Q4 Earnings Guidance

Microchip Technology (NASDAQ:MCHP) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.67-1.79 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.65. The company issued revenue guidance of $1.420-1.487 billion, compared to the consensus revenue estimate of $1.39 billion.Microchip Technology also updated its Q4 2021
After-Hours guidance to 1.67-1.79 EPS.

Several equities analysts recently commented on the company. Credit Suisse Group upped their price objective on Microchip Technology from $145.00 to $180.00 and gave the company an outperform rating in a research note on Friday. KeyCorp upped their price objective on Microchip Technology from $170.00 to $175.00 and gave the company an overweight rating in a research note on Friday. BMO Capital Markets upped their price objective on Microchip Technology from $118.00 to $130.00 and gave the company an outperform rating in a research note on Friday, November 6th. Cowen upped their price objective on Microchip Technology from $102.00 to $125.00 and gave the company a market perform rating in a research note on Friday, November 6th. Finally, Mizuho upped their price objective on Microchip Technology from $152.00 to $158.00 and gave the company a buy rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $144.12.

MCHP traded up $1.70 during trading on Friday, reaching $145.44. The stock had a trading volume of 2,776,018 shares, compared to its average volume of 2,171,596. The stock has a market cap of $37.87 billion, a PE ratio of 62.15, a PEG ratio of 1.74 and a beta of 1.69. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.74 and a current ratio of 1.07. Microchip Technology has a one year low of $53.15 and a one year high of $155.36. The business has a 50-day moving average of $142.79 and a 200-day moving average of $120.75.

Microchip Technology (NASDAQ:MCHP) last released its earnings results on Thursday, February 4th. The semiconductor company reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.17. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. Equities research analysts forecast that Microchip Technology will post 5.79 EPS for the current fiscal year.

In other news, VP Richard J. Simoncic sold 2,269 shares of the firm’s stock in a transaction dated Monday, November 23rd. The stock was sold at an average price of $130.70, for a total transaction of $296,558.30. Following the transaction, the vice president now directly owns 16,885 shares of the company’s stock, valued at $2,206,869.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew W. Chapman sold 500 shares of the firm’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $130.70, for a total value of $65,350.00. Following the transaction, the director now directly owns 19,356 shares in the company, valued at $2,529,829.20. The disclosure for this sale can be found here. In the last three months, insiders sold 7,206 shares of company stock worth $928,698. 2.15% of the stock is owned by insiders.

About Microchip Technology

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

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Earnings History and Estimates for Microchip Technology (NASDAQ:MCHP)

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