Microchip Technology Inc. (NASDAQ:MCHP) – Analysts at Jefferies Group reduced their Q4 2018 EPS estimates for shares of Microchip Technology in a research note issued to investors on Wednesday. Jefferies Group analyst M. Lipacis now anticipates that the semiconductor company will earn $1.25 per share for the quarter, down from their prior forecast of $1.29. Jefferies Group has a “Buy” rating and a $110.00 price objective on the stock. Jefferies Group also issued estimates for Microchip Technology’s FY2020 earnings at $5.93 EPS.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The business had revenue of $994.10 million during the quarter, compared to analyst estimates of $992.10 million. Microchip Technology had a net margin of 6.33% and a return on equity of 36.54%. Microchip Technology’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS.

MCHP has been the topic of a number of other reports. Morgan Stanley cut their price objective on shares of Microchip Technology from $99.00 to $96.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Piper Jaffray Companies began coverage on shares of Microchip Technology in a report on Monday, December 18th. They set an “overweight” rating and a $100.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Microchip Technology from $120.00 to $130.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Friday, January 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (up from $94.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Microchip Technology currently has an average rating of “Buy” and a consensus price target of $102.35.

Microchip Technology (MCHP) traded up $1.98 on Monday, reaching $83.02. 5,019,900 shares of the company’s stock were exchanged, compared to its average volume of 3,073,666. 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 stock has a market cap of $18,991.17, a P/E ratio of 85.59, a price-to-earnings-growth ratio of 1.08 and a beta of 1.05. Microchip Technology has a 1 year low of $70.18 and a 1 year high of $99.17.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Microchip Technology by 7.8% during the third quarter. Janus Henderson Group PLC now owns 8,703,575 shares of the semiconductor company’s stock valued at $781,389,000 after buying an additional 630,311 shares during the period. Ameriprise Financial Inc. increased its position in shares of Microchip Technology by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,891,973 shares of the semiconductor company’s stock valued at $259,643,000 after buying an additional 488,832 shares during the period. Alkeon Capital Management LLC increased its position in shares of Microchip Technology by 0.5% during the third quarter. Alkeon Capital Management LLC now owns 2,052,707 shares of the semiconductor company’s stock valued at $184,292,000 after buying an additional 10,000 shares during the period. Victory Capital Management Inc. increased its position in shares of Microchip Technology by 2.0% during the third quarter. Victory Capital Management Inc. now owns 1,897,918 shares of the semiconductor company’s stock valued at $170,395,000 after buying an additional 37,148 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Microchip Technology by 13.8% during the third quarter. Pictet Asset Management Ltd. now owns 1,830,462 shares of the semiconductor company’s stock valued at $164,339,000 after buying an additional 221,275 shares during the period.

In other news, VP Stephen V. Drehobl sold 2,852 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total transaction of $261,414.32. Following the sale, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 1,801 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were 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.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.363 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.75%. Microchip Technology’s dividend payout ratio is 149.49%.

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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.

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

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