Zacks: Analysts Expect Microchip Technology Incorporated (MCHP) Will Announce Quarterly Sales of $992.17 Million
Brokerages predict that Microchip Technology Incorporated (NASDAQ:MCHP) will report sales of $992.17 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Microchip Technology’s earnings. The highest sales estimate is $993.40 million and the lowest is $991.90 million. Microchip Technology posted sales of $834.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.9%. The company is scheduled to report its next earnings results on Tuesday, February 6th.
On average, analysts expect that Microchip Technology will report full-year sales of $992.17 million for the current fiscal year, with estimates ranging from $3.97 billion to $3.99 billion. For the next financial year, analysts anticipate that the business will report sales of $4.19 billion per share, with estimates ranging from $4.08 billion to $4.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Monday, November 6th. The semiconductor company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 EPS.
MCHP has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $120.00 price target on shares of Microchip Technology in a research report on Friday, September 8th. BidaskClub upgraded Microchip Technology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. SunTrust Banks, Inc. restated a “hold” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Thursday, October 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $94.00 price target on shares of Microchip Technology in a research report on Wednesday, September 20th. Five 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 stock presently has a consensus rating of “Buy” and a consensus target price of $99.41.
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In other news, CFO James Eric Bjornholt sold 2,453 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total transaction of $200,876.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Stephen V. Drehobl sold 3,076 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $251,893.64. Following the transaction, the vice president now owns 14,263 shares in the company, valued at approximately $1,167,997.07. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Grove Bank & Trust increased its stake in shares of Microchip Technology by 15.8% during the second quarter. Grove Bank & Trust now owns 1,390 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 190 shares during the period. Amica Retiree Medical Trust purchased a new position in shares of Microchip Technology during the third quarter valued at $121,000. Smithfield Trust Co. increased its stake in shares of Microchip Technology by 0.4% during the second quarter. Smithfield Trust Co. now owns 1,626 shares of the semiconductor company’s stock valued at $126,000 after buying an additional 7 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Microchip Technology by 1.4% during the second quarter. Commonwealth Bank of Australia now owns 2,124 shares of the semiconductor company’s stock valued at $163,000 after buying an additional 29 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Microchip Technology by 608.4% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,104 shares of the semiconductor company’s stock valued at $189,000 after buying an additional 1,807 shares during the period.
Shares of Microchip Technology (NASDAQ:MCHP) opened at $91.02 on Tuesday. The stock has a market capitalization of $21,416.38, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.46 and a beta of 1.05. Microchip Technology has a 52-week low of $60.77 and a 52-week high of $95.92. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.33 and a quick ratio of 2.71.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This represents a $1.45 annualized dividend and a dividend yield of 1.59%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is 58.00%.
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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