Wall Street analysts expect Microchip Technology Incorporated (NASDAQ:MCHP) to report sales of $992.17 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Microchip Technology’s earnings, with estimates ranging from $991.90 million to $993.40 million. Microchip Technology posted sales of $834.37 million during the same quarter last year, which would indicate a positive year over year growth rate of 18.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Microchip Technology will report full-year sales of $992.17 million for the current year, with estimates ranging from $3.97 billion to $3.99 billion. For the next year, analysts forecast that the firm will report sales of $4.19 billion per share, with estimates ranging from $4.08 billion to $4.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Microchip Technology’s revenue was up 16.2% on a year-over-year basis.
Several research analysts have recently commented on the company. Piper Jaffray Companies assumed coverage on Microchip Technology in a report on Monday. They set an “overweight” rating and a $100.00 price objective for the company. Morgan Stanley boosted their price objective on Microchip Technology from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Friday, November 10th. Finally, Jefferies Group boosted their price objective on Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Microchip Technology has an average rating of “Buy” and a consensus price target of $101.18.
Shares of Microchip Technology (NASDAQ MCHP) traded down $0.41 during midday trading on Thursday, hitting $89.81. The stock had a trading volume of 260,106 shares, compared to its average volume of 2,507,635. Microchip Technology has a 52 week low of $62.21 and a 52 week high of $95.92. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $20,955.58, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.00.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were paid a $0.3625 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $1.45 annualized dividend and a yield of 1.61%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 58.00%.
In other Microchip Technology news, VP Stephen V. Drehobl sold 2,852 shares of the company’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 value of $261,414.32. Following the completion of the sale, the vice president now owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,801 shares of the company’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 value of $165,079.66. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC boosted its stake in shares of Microchip Technology by 11.3% during the third quarter. Parametric Portfolio Associates LLC now owns 943,194 shares of the semiconductor company’s stock valued at $84,680,000 after purchasing an additional 96,065 shares during the period. Optimum Investment Advisors purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $518,000. Moors & Cabot Inc. boosted its stake in shares of Microchip Technology by 14.7% during the third quarter. Moors & Cabot Inc. now owns 9,403 shares of the semiconductor company’s stock valued at $843,000 after purchasing an additional 1,208 shares during the period. IFM Investors Pty Ltd purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $591,000. Finally, Yellowstone Partners LLC purchased a new stake in shares of Microchip Technology during the third quarter valued at approximately $207,000.
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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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