Q4 2018 EPS Estimates for Microchip Technology Inc. (MCHP) Lowered by Analyst
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.
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%.
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.
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