Wall Street brokerages expect that Microchip Technology Inc. (NASDAQ:MCHP) will announce earnings per share (EPS) of $1.35 for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Microchip Technology’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.37. Microchip Technology reported earnings of $1.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.6%. The firm is scheduled to announce 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 fiscal year, with EPS estimates ranging from $5.39 to $5.51. For the next year, analysts expect that the company will report earnings of $5.87 per share, with EPS estimates ranging from $5.56 to $6.16. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly 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. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis.
A number of equities analysts recently commented on MCHP shares. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Friday, November 10th. Morgan Stanley lifted their price objective on Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Piper Jaffray Companies started coverage on Microchip Technology in a research note on Monday, December 18th. They issued an “overweight” rating and a $100.00 price objective on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $110.00 price objective (up from $95.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Microchip Technology in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $101.24.
Microchip Technology (NASDAQ:MCHP) traded up $0.27 during trading on Thursday, hitting $92.26. The company had a trading volume of 1,434,891 shares, compared to its average volume of 1,920,000. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The firm has a market capitalization of $21,470.00, a price-to-earnings ratio of 36.90, a P/E/G ratio of 1.48 and a beta of 1.00. Microchip Technology has a one year low of $62.52 and a one year high of $95.92.
In other news, CFO James Eric Bjornholt sold 1,801 shares of the business’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 $165,079.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $261,414.32. Following the sale, the vice president now owns 15,767 shares of the company’s stock, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Microchip Technology by 4.6% during the second quarter. Vanguard Group Inc. now owns 23,622,558 shares of the semiconductor company’s stock valued at $1,823,190,000 after buying an additional 1,042,622 shares during the last quarter. State Street Corp boosted its position in shares of Microchip Technology by 0.7% during the second quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock valued at $690,652,000 after buying an additional 58,577 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Microchip Technology by 7.8% during the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock valued at $781,389,000 after buying an additional 630,311 shares during the last quarter. Fred Alger Management Inc. boosted its position in shares of Microchip Technology by 80.9% during the second quarter. Fred Alger Management Inc. now owns 3,349,037 shares of the semiconductor company’s stock valued at $258,479,000 after buying an additional 1,497,699 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Microchip Technology by 1.8% during the second quarter. Northern Trust Corp now owns 3,091,642 shares of the semiconductor company’s stock valued at $238,614,000 after buying an additional 53,227 shares during the last quarter.
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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