Microchip Technology (MCHP) to Release Quarterly Earnings on Monday

Microchip Technology (NASDAQ:MCHPGet Free Report) is set to announce its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Microchip Technology (NASDAQ:MCHPGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a return on equity of 45.59% and a net margin of 27.59%. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, analysts expect Microchip Technology to post $5 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Microchip Technology Stock Performance

Shares of NASDAQ MCHP opened at $91.36 on Friday. The business’s 50-day simple moving average is $88.05 and its 200-day simple moving average is $85.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.98. Microchip Technology has a 52 week low of $68.75 and a 52 week high of $94.63. The firm has a market cap of $49.37 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 2.73 and a beta of 1.60.

Insider Activity

In other news, CFO James Eric Bjornholt sold 1,970 shares of Microchip Technology stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now directly owns 32,893 shares in the company, valued at approximately $2,759,722.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Karlton D. Johnson sold 370 shares of Microchip Technology stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.00, for a total value of $31,080.00. Following the completion of the transaction, the director now owns 1,789 shares in the company, valued at $150,276. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the transaction, the chief financial officer now directly owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Corporate insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Needham & Company LLC increased their price target on Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Microchip Technology in a research report on Tuesday, January 30th. The Goldman Sachs Group cut their price objective on Microchip Technology from $87.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. UBS Group decreased their target price on Microchip Technology from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, TD Cowen upped their price target on Microchip Technology from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has an average rating of “Moderate Buy” and an average price target of $92.75.

View Our Latest Report on Microchip Technology

About Microchip Technology

(Get Free Report)

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Earnings History for Microchip Technology (NASDAQ:MCHP)

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