Analysts expect Microchip Technology Inc. (NASDAQ:MCHP) to announce $1.38 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Microchip Technology’s earnings, with estimates ranging from $1.32 to $1.42. Microchip Technology posted earnings of $1.16 per share in the same quarter last year, which suggests a positive year over year growth rate of 19%. The company is scheduled to report its next earnings report on Tuesday, May 8th.
On average, analysts expect that Microchip Technology will report full year earnings of $5.45 per share for the current year, with EPS estimates ranging from $5.39 to $5.51. For the next fiscal year, analysts anticipate that the company will report earnings of $5.87 per share, with EPS estimates ranging from $5.56 to $6.16. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. Microchip Technology had a net margin of 16.23% and a return on equity of 35.48%. The business had revenue of $994.10 million during the quarter, compared to analysts’ expectations of $992.10 million. During the same period in the previous year, the company earned $1.05 earnings per share. Microchip Technology’s revenue for the quarter was up 19.1% on a year-over-year basis.
Shares of Microchip Technology (MCHP) traded down $7.32 during trading on Wednesday, hitting $84.60. 7,682,817 shares of the stock were exchanged, compared to its average volume of 2,476,968. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71. Microchip Technology has a twelve month low of $69.76 and a twelve month high of $99.17. The firm has a market capitalization of $20,410.00, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be given a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s payout ratio is 58.00%.
In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total value of $165,079.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Stephen V. Drehobl sold 2,852 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares in the company, valued at approximately $1,445,203.22. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MCHP. QS Investors LLC boosted its stake in shares of Microchip Technology by 6.5% in the 2nd quarter. QS Investors LLC now owns 2,999 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 182 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Microchip Technology by 49.1% during the second quarter. HighTower Advisors LLC now owns 16,233 shares of the semiconductor company’s stock valued at $1,254,000 after purchasing an additional 5,347 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Microchip Technology by 14.4% during the second quarter. Macquarie Group Ltd. now owns 132,038 shares of the semiconductor company’s stock valued at $10,191,000 after purchasing an additional 16,640 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Microchip Technology by 5.6% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 39,518 shares of the semiconductor company’s stock valued at $3,049,000 after purchasing an additional 2,086 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Microchip Technology by 0.7% in the second quarter. State Street Corp now owns 8,948,443 shares of the semiconductor company’s stock worth $690,652,000 after acquiring an additional 58,577 shares during the period.
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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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