Microchip Technology Inc. (NASDAQ:MCHP) – Investment analysts at Jefferies Group lowered their Q4 2018 EPS estimates for shares of Microchip Technology in a research note issued on Wednesday. Jefferies Group analyst M. Lipacis now expects that the semiconductor company will post earnings of $1.25 per share for the quarter, down from their prior forecast of $1.29. Jefferies Group currently has a “Buy” rating and a $110.00 target price on the stock. Jefferies Group also issued estimates for Microchip Technology’s FY2020 earnings at $5.93 EPS.

Other analysts have also issued research reports about the stock. Needham & Company LLC raised their price target on shares of Microchip Technology from $120.00 to $130.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $120.00 price target on shares of Microchip Technology in a research report on Tuesday, November 7th. Credit Suisse Group restated an “outperform” rating and set a $110.00 price target (up previously from $95.00) on shares of Microchip Technology in a research report on Tuesday, November 7th. Finally, ValuEngine lowered shares of Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.35.

Microchip Technology (MCHP) traded down $2.21 during mid-day trading on Monday, reaching $80.81. 4,296,400 shares of the company traded hands, compared to its average volume of 3,086,345. The firm has a market capitalization of $18,940.00, a price-to-earnings ratio of 83.31, a PEG ratio of 1.11 and a beta of 1.05. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95. Microchip Technology has a 52 week low of $70.72 and a 52 week high of $99.17.

Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. The firm had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. During the same quarter last year, the company posted $1.05 earnings per share. The firm’s revenue was up 19.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Wednesday, February 21st will be given a $0.363 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $1.45 annualized dividend and a dividend yield of 1.80%. Microchip Technology’s dividend payout ratio (DPR) is 149.48%.

In other news, VP Stephen V. Drehobl sold 2,852 shares of Microchip Technology stock in a transaction dated 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 in the company, valued at $1,445,203.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 1,801 shares of Microchip Technology stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $165,079.66. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MCHP. Fox Run Management L.L.C. lifted its stake in shares of Microchip Technology by 248.8% in the third quarter. Fox Run Management L.L.C. now owns 15,000 shares of the semiconductor company’s stock worth $1,347,000 after buying an additional 10,700 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Microchip Technology by 9.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 130,249 shares of the semiconductor company’s stock worth $11,694,000 after buying an additional 11,068 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Microchip Technology by 0.8% in the third quarter. Neuberger Berman Group LLC now owns 370,733 shares of the semiconductor company’s stock worth $33,284,000 after buying an additional 2,861 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Microchip Technology by 26.2% in the third quarter. Handelsbanken Fonder AB now owns 96,400 shares of the semiconductor company’s stock worth $8,655,000 after buying an additional 20,000 shares in the last quarter. Finally, Cordasco Financial Network raised its stake in Microchip Technology by 15.0% during the third quarter. Cordasco Financial Network now owns 25,207 shares of the semiconductor company’s stock worth $2,263,000 after purchasing an additional 3,279 shares during the period.

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About Microchip Technology

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.

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

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