Microchip Technology (NASDAQ:MCHP) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.30-1.39 for the period, compared to the Thomson Reuters consensus estimate of $1.37. The company issued revenue guidance of $964.4-1.004 billion, compared to the consensus revenue estimate of $1.01 billion.

Several brokerages have commented on MCHP. Morgan Stanley lowered their target price on shares of Microchip Technology from $99.00 to $96.00 and set an equal weight rating for the company in a research note on Wednesday. Needham & Company LLC upped their target price on shares of Microchip Technology from $120.00 to $130.00 and gave the company a strong-buy rating in a research note on Tuesday, November 7th. Bank of America lowered their target price on shares of Microchip Technology from $120.00 to $110.00 and set a buy rating for the company in a research note on Wednesday. Credit Suisse Group reaffirmed an outperform rating and issued a $110.00 target price (up previously from $95.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, Zacks Investment Research downgraded shares of Microchip Technology from a buy rating to a hold rating in a research report on Monday, October 23rd. Six research 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 a consensus rating of Buy and an average target price of $101.56.

Shares of Microchip Technology (MCHP) opened at $82.58 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.71 and a current ratio of 3.33. The stock has a market cap of $21,500.58, a PE ratio of 85.48, a PEG ratio of 1.28 and a beta of 1.05. Microchip Technology has a 12 month low of $69.76 and a 12 month high of $99.17.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Microchip Technology had a net margin of 6.33% and a return on equity of 35.94%. The business had revenue of $994.10 million for the quarter, compared to analyst estimates of $992.10 million. During the same period last year, the firm earned $1.05 earnings per share. Microchip Technology’s revenue for the quarter was up 19.1% compared to the same quarter last year. research analysts forecast that Microchip Technology will post 5.12 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be given a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 149.49%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $91.66, for a total transaction of $261,414.32. Following the completion of the transaction, the vice president now directly owns 15,767 shares in the company, valued at $1,445,203.22. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

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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.

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

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