Equities research analysts predict that Microchip Technology Inc. (NASDAQ:MCHP) will report $1.35 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Microchip Technology’s earnings, with the lowest EPS estimate coming in at $1.34 and the highest estimate coming in at $1.35. Microchip Technology posted earnings per share of $1.16 during the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The business is expected to issue its next earnings results on Tuesday, May 8th.
On average, analysts expect that Microchip Technology will report full year earnings of $5.43 per share for the current financial year, with EPS estimates ranging from $5.42 to $5.43. For the next financial year, analysts anticipate that the company will post earnings of $5.87 per share, with EPS estimates ranging from $5.64 to $6.17. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. Microchip Technology’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share.
Several research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating on shares of Microchip Technology in a research report on Tuesday, March 6th. Stifel Nicolaus reaffirmed an “average” rating and set a $112.00 price objective on shares of Microchip Technology in a research report on Tuesday, March 6th. BidaskClub raised Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 2nd. Goldman Sachs raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.57 to $108.00 in a research report on Thursday, March 8th. Finally, Mizuho raised Microchip Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $110.00 in a research report on Monday, March 5th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Microchip Technology currently has a consensus rating of “Buy” and an average price target of $103.04.
Microchip Technology stock traded up $1.57 during mid-day trading on Tuesday, hitting $98.54. The stock had a trading volume of 2,257,257 shares, compared to its average volume of 3,318,968. The company has a quick ratio of 2.33, a current ratio of 2.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $23,007.81, a PE ratio of 101.59, a P/E/G ratio of 1.31 and a beta of 1.08. Microchip Technology has a 52 week low of $71.40 and a 52 week high of $101.48.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st were issued a dividend of $0.363 per share. This represents a $1.45 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is presently 149.49%.
In other Microchip Technology news, Director Esther Johnson sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $97.90, for a total value of $222,722.50. Following the sale, the director now owns 6,081 shares in the company, valued at $595,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mitchell R. Little sold 4,159 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $84.14, for a total value of $349,938.26. Following the completion of the sale, the vice president now owns 15,767 shares in the company, valued at approximately $1,326,635.38. The disclosure for this sale can be found here. Insiders have sold 33,667 shares of company stock worth $3,132,552 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Huntington National Bank raised its stake in Microchip Technology by 10.9% in the fourth quarter. Huntington National Bank now owns 5,594 shares of the semiconductor company’s stock valued at $492,000 after buying an additional 550 shares during the period. Jaffetilchin Investment Partners LLC raised its stake in Microchip Technology by 15.9% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 4,878 shares of the semiconductor company’s stock valued at $429,000 after buying an additional 668 shares during the period. Raymond James Trust N.A. raised its stake in Microchip Technology by 3.7% in the fourth quarter. Raymond James Trust N.A. now owns 18,601 shares of the semiconductor company’s stock valued at $1,634,000 after buying an additional 671 shares during the period. Covenant Asset Management LLC raised its stake in Microchip Technology by 4.7% in the fourth quarter. Covenant Asset Management LLC now owns 15,171 shares of the semiconductor company’s stock valued at $1,333,000 after buying an additional 675 shares during the period. Finally, Moors & Cabot Inc. raised its stake in Microchip Technology by 7.4% in the fourth quarter. Moors & Cabot Inc. now owns 10,103 shares of the semiconductor company’s stock valued at $888,000 after buying an additional 700 shares during the period.
ILLEGAL ACTIVITY WARNING: This article was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://ledgergazette.com/2018/03/20/1-35-earnings-per-share-expected-for-microchip-technology-inc-mchp-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.