$1.43 Earnings Per Share Expected for Microchip Technology Inc. (NASDAQ:MCHP) This Quarter

Brokerages expect Microchip Technology Inc. (NASDAQ:MCHP) to announce $1.43 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microchip Technology’s earnings, with estimates ranging from $1.35 to $1.47. Microchip Technology posted earnings of $1.41 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, August 4th.

On average, analysts expect that Microchip Technology will report full-year earnings of $5.81 per share for the current fiscal year, with EPS estimates ranging from $5.39 to $6.26. For the next year, analysts expect that the firm will post earnings of $6.59 per share, with EPS estimates ranging from $5.86 to $7.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Microchip Technology had a net margin of 10.82% and a return on equity of 23.63%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 earnings per share.

Several equities analysts have commented on the company. Piper Sandler reissued a “buy” rating and set a $130.00 price objective on shares of Microchip Technology in a research report on Monday, June 29th. Jefferies Financial Group lifted their price target on Microchip Technology from $101.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Loop Capital initiated coverage on Microchip Technology in a research report on Friday, June 19th. They issued a “buy” rating and a $120.00 price target for the company. Wells Fargo & Co decreased their target price on Microchip Technology from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, TheStreet raised Microchip Technology from a “c+” rating to a “b” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $115.30.

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $112.92, for a total value of $225,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard J. Simoncic sold 3,958 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $86.92, for a total value of $344,029.36. Following the completion of the sale, the vice president now owns 19,213 shares of the company’s stock, valued at $1,669,993.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,336 shares of company stock worth $2,684,160. 2.15% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in MCHP. Sugarloaf Wealth Management LLC purchased a new position in shares of Microchip Technology in the first quarter worth about $25,000. Jacobi Capital Management LLC raised its position in Microchip Technology by 18,027.4% during the second quarter. Jacobi Capital Management LLC now owns 47,675 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 47,412 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Microchip Technology during the first quarter valued at approximately $32,000. Watson Rebecca purchased a new position in Microchip Technology during the second quarter valued at approximately $32,000. Finally, Allred Capital Management LLC grew its holdings in Microchip Technology by 42.0% in the first quarter. Allred Capital Management LLC now owns 487 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 144 shares during the period.

NASDAQ:MCHP traded down $0.52 during trading hours on Friday, hitting $101.73. The company had a trading volume of 1,559,668 shares, compared to its average volume of 2,393,778. The company has a market capitalization of $24.37 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.61. The stock has a 50-day moving average price of $103.59 and a 200 day moving average price of $93.37. Microchip Technology has a 52 week low of $53.15 and a 52 week high of $113.28. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.35 and a quick ratio of 0.94.

About Microchip Technology

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

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

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