Zacks: Analysts Expect Microchip Technology Inc. (MCHP) Will Post Quarterly Sales of $1.51 Billion
Analysts expect Microchip Technology Inc. (NASDAQ:MCHP) to post sales of $1.51 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Microchip Technology’s earnings. The lowest sales estimate is $1.51 billion and the highest is $1.52 billion. Microchip Technology reported sales of $1.01 billion during the same quarter last year, which would suggest a positive year over year growth rate of 49.5%. The business is scheduled to issue its next earnings report on Monday, November 5th.
According to Zacks, analysts expect that Microchip Technology will report full year sales of $5.71 billion for the current year, with estimates ranging from $5.63 billion to $5.81 billion. For the next year, analysts anticipate that the business will report sales of $6.27 billion per share, with estimates ranging from $6.08 billion to $6.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last announced its earnings results on Thursday, August 9th. The semiconductor company reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.13. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share.
Shares of MCHP stock opened at $86.03 on Tuesday. The stock has a market capitalization of $20.27 billion, a PE ratio of 16.58, a PEG ratio of 0.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.32 and a quick ratio of 0.80. Microchip Technology has a one year low of $78.33 and a one year high of $104.20.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st will be issued a dividend of $0.364 per share. This represents a $1.46 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Monday, August 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.
In related news, COO Ganesh Moorthy acquired 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average price of $84.10 per share, for a total transaction of $1,009,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stephen V. Drehobl sold 3,998 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total transaction of $337,151.34. Following the sale, the vice president now owns 16,931 shares of the company’s stock, valued at approximately $1,427,791.23. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Psagot Investment House Ltd. purchased a new position in shares of Microchip Technology in the second quarter worth about $125,000. Canada Pension Plan Investment Board increased its stake in shares of Microchip Technology by 14,030.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 1,403 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Microchip Technology in the first quarter worth about $131,000. Summit Trail Advisors LLC increased its stake in shares of Microchip Technology by 9,097.1% in the first quarter. Summit Trail Advisors LLC now owns 138,325 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 136,821 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of Microchip Technology in the second quarter worth about $200,000.
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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