Wall Street analysts forecast that Microchip Technology Inc. (NASDAQ:MCHP) will report earnings per share of $1.74 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Microchip Technology’s earnings, with the highest EPS estimate coming in at $1.74 and the lowest estimate coming in at $1.73. Microchip Technology posted earnings per share of $1.41 in the same quarter last year, which would indicate a positive year over year growth rate of 23.4%. The firm is expected to report its next earnings results on Monday, November 5th.

On average, analysts expect that Microchip Technology will report full year earnings of $6.76 per share for the current fiscal year, with EPS estimates ranging from $6.59 to $6.93. For the next fiscal year, analysts anticipate that the company will post earnings of $7.73 per share, with EPS estimates ranging from $7.24 to $8.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.13. Microchip Technology had a net margin of 2.85% and a return on equity of 36.33%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted $1.31 EPS. The company’s revenue was up 24.7% on a year-over-year basis.

A number of equities research analysts have issued reports on MCHP shares. BidaskClub raised shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Rosenblatt Securities reaffirmed a “buy” rating and set a $125.00 price objective on shares of Microchip Technology in a report on Sunday, August 12th. ValuEngine lowered shares of Microchip Technology from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Zacks Investment Research lowered shares of Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Morgan Stanley raised their target price on shares of Microchip Technology from $97.00 to $103.00 and gave the company an “equal weight” rating in a report on Tuesday, June 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $115.76.

In related news, COO Ganesh Moorthy purchased 12,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average cost 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 can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,887 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $84.33, for a total value of $159,130.71. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Psagot Investment House Ltd. bought a new stake in Microchip Technology in the second quarter worth $125,000. Canada Pension Plan Investment Board lifted its position in 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 buying an additional 1,403 shares during the last quarter. Signaturefd LLC bought a new stake in Microchip Technology in the first quarter worth $131,000. Summit Trail Advisors LLC lifted its position in 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 buying an additional 136,821 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of Microchip Technology during the second quarter worth $200,000.

MCHP traded down $0.85 during trading on Friday, reaching $83.05. 3,504,200 shares of the company traded hands, compared to its average volume of 2,863,772. 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 12-month low of $78.33 and a 12-month high of $104.20. The firm has a market cap of $20.06 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.89 and a beta of 1.09.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st were issued a $0.364 dividend. The ex-dividend date of this dividend was Monday, August 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.75%. Microchip Technology’s dividend payout ratio (DPR) is 28.13%.

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

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