$1.31 EPS Expected for Microchip Technology Inc. (NASDAQ:MCHP) This Quarter

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Wall Street analysts forecast that Microchip Technology Inc. (NASDAQ:MCHP) will announce earnings per share of $1.31 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 $1.33 and the lowest estimate coming in at $1.28. Microchip Technology posted earnings per share of $1.68 during the same quarter last year, which indicates a negative year over year growth rate of 22%. The business is expected to announce its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that Microchip Technology will report full year earnings of $5.27 per share for the current financial year, with EPS estimates ranging from $5.16 to $5.33. For the next fiscal year, analysts expect that the company will report earnings of $6.44 per share, with EPS estimates ranging from $6.21 to $6.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.16. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Microchip Technology had a net margin of 6.79% and a return on equity of 27.79%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 EPS.

A number of equities analysts have recently issued reports on MCHP shares. Needham & Company LLC set a $100.00 price target on shares of Microchip Technology and gave the company a “buy” rating in a report on Wednesday, August 7th. Cfra set a $100.00 price target on shares of Microchip Technology and gave the company a “hold” rating in a report on Saturday, September 7th. B. Riley set a $120.00 price target on shares of Microchip Technology and gave the company a “buy” rating in a report on Wednesday, September 4th. BidaskClub upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Longbow Research started coverage on shares of Microchip Technology in a report on Tuesday, July 9th. They issued a “neutral” rating and a $87.93 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $100.88.

In related news, VP Richard J. Simoncic sold 3,437 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $88.60, for a total value of $304,518.20. Following the sale, the vice president now directly owns 18,178 shares of the company’s stock, valued at approximately $1,610,570.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Eric Bjornholt sold 1,937 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $171,618.20. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in shares of Microchip Technology during the 2nd quarter worth about $37,000. Spectrum Management Group Inc. boosted its stake in shares of Microchip Technology by 127.1% during the 2nd quarter. Spectrum Management Group Inc. now owns 452 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 253 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Microchip Technology during the 2nd quarter worth about $40,000. Coastal Investment Advisors Inc. boosted its stake in shares of Microchip Technology by 74.9% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 502 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 215 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Microchip Technology during the 1st quarter worth about $43,000.

Shares of MCHP opened at $95.00 on Tuesday. The company has a 50-day simple moving average of $89.41 and a 200-day simple moving average of $88.71. The company has a quick ratio of 0.63, a current ratio of 0.93 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $22.73 billion, a PE ratio of 16.46, a P/E/G ratio of 1.46 and a beta of 1.41. Microchip Technology has a 52-week low of $60.70 and a 52-week high of $101.35.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.366 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 1.54%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, August 20th. Microchip Technology’s dividend payout ratio is presently 24.01%.

Microchip Technology Company Profile

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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