Wall Street brokerages expect that Microchip Technology Inc. (NASDAQ:MCHP) will post $1.41 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microchip Technology’s earnings. The highest EPS estimate is $1.56 and the lowest is $1.35. Microchip Technology posted earnings of $1.40 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The firm is expected to issue its next earnings results on Tuesday, May 14th.

On average, analysts expect that Microchip Technology will report full year earnings of $6.47 per share for the current financial year, with EPS estimates ranging from $6.42 to $6.54. For the next financial year, analysts expect that the business will report earnings of $6.81 per share, with EPS estimates ranging from $6.14 to $7.36. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.21. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. Microchip Technology’s revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS.

A number of equities analysts have recently commented on MCHP shares. Rosenblatt Securities reissued a “buy” rating and issued a $115.00 price target on shares of Microchip Technology in a report on Monday, February 11th. ValuEngine raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Morgan Stanley increased their price target on shares of Microchip Technology from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 19th. Needham & Company LLC increased their price target on shares of Microchip Technology from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 6th. Finally, BidaskClub raised shares of Microchip Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $102.17.

Microchip Technology stock opened at $84.00 on Tuesday. The company has a market cap of $20.45 billion, a P/E ratio of 16.18, a PEG ratio of 1.09 and a beta of 1.24. Microchip Technology has a 1-year low of $60.70 and a 1-year high of $104.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 21st were issued a dividend of $0.365 per share. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $1.46 annualized dividend and a dividend yield of 1.74%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is currently 28.13%.

In related news, Director Matthew W. Chapman sold 4,660 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $91.04, for a total transaction of $424,246.40. Following the transaction, the director now owns 19,080 shares of the company’s stock, valued at approximately $1,737,043.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mitchell R. Little sold 3,585 shares of the stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $91.17, for a total transaction of $326,844.45. Following the transaction, the vice president now directly owns 7,693 shares in the company, valued at approximately $701,370.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,101 shares of company stock worth $1,258,210. 2.13% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MCHP. Vanguard Group Inc. boosted its position in Microchip Technology by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after buying an additional 237,329 shares during the period. Vanguard Group Inc boosted its position in Microchip Technology by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after buying an additional 237,329 shares during the period. Dodge & Cox purchased a new stake in Microchip Technology during the 3rd quarter valued at $827,774,000. Northern Trust Corp boosted its position in Microchip Technology by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,306,865 shares of the semiconductor company’s stock valued at $237,828,000 after buying an additional 121,647 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Microchip Technology by 4.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock valued at $227,564,000 after buying an additional 134,749 shares during the period.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

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

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