Microchip Technology Incorporated (NASDAQ:MCHP) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.30-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.30. The company issued revenue guidance of $971.7 million to $1.0121 billion, compared to the consensus revenue estimate of $984.46 million.

Several analysts recently commented on the company. B. Riley reaffirmed a buy rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Friday, August 4th. J P Morgan Chase & Co reaffirmed an overweight rating and set a $120.00 price objective on shares of Microchip Technology in a research note on Tuesday. Stifel Nicolaus reaffirmed a buy rating and set a $100.00 price objective (up previously from $94.00) on shares of Microchip Technology in a research note on Tuesday. Jefferies Group LLC raised their price objective on Microchip Technology from $106.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Credit Suisse Group reaffirmed an outperform rating and set a $110.00 price objective (up previously from $95.00) on shares of Microchip Technology in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $97.82.

Microchip Technology Incorporated (MCHP) opened at $91.44 on Wednesday. Microchip Technology Incorporated has a 1-year low of $60.77 and a 1-year high of $95.92. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $22,192.55, a PE ratio of 20.20, a P/E/G ratio of 2.42 and a beta of 1.05.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. Microchip Technology had a return on equity of 36.81% and a net margin of 16.23%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $0.94 earnings per share. Microchip Technology’s quarterly revenue was up 16.2% on a year-over-year basis. analysts forecast that Microchip Technology Incorporated will post 4.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.3625 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.45 dividend on an annualized basis and a yield of 1.59%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is presently 58.00%.

In other news, Director Wade F. Meyercord sold 1,300 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $83.95, for a total value of $109,135.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock valued at $561,905 in the last quarter. 2.13% of the stock is currently owned by corporate insiders.

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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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