Equities research analysts expect that Microchip Technology Inc. (NASDAQ:MCHP) will announce earnings of $1.38 per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Microchip Technology’s earnings, with the highest EPS estimate coming in at $1.41 and the lowest estimate coming in at $1.37. Microchip Technology posted earnings per share of $1.61 during the same quarter last year, which suggests a negative year-over-year growth rate of 14.3%. The business is expected to announce its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Microchip Technology will report full-year earnings of $6.12 per share for the current year, with EPS estimates ranging from $5.85 to $6.28. For the next year, analysts forecast that the company will report earnings of $7.19 per share, with EPS estimates ranging from $6.21 to $7.71. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover Microchip Technology.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 earnings per share.

MCHP has been the subject of several recent analyst reports. Needham & Company LLC cut Microchip Technology from a “strong-buy” rating to a “buy” rating and cut their target price for the stock from $100.00 to $90.00 in a research note on Thursday, January 24th. BidaskClub upgraded Microchip Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. ValuEngine upgraded Microchip Technology from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Citigroup restated a “buy” rating and set a $105.00 target price on shares of Microchip Technology in a research note on Thursday, February 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a report on Monday, February 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Microchip Technology currently has a consensus rating of “Hold” and a consensus target price of $104.32.

Shares of MCHP stock opened at $81.95 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.93 and a quick ratio of 0.63. The company has a market capitalization of $19.73 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.10 and a beta of 1.31. Microchip Technology has a 1 year low of $60.70 and a 1 year high of $104.20.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.3655 per share. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 annualized dividend and a dividend yield of 1.78%. Microchip Technology’s dividend payout ratio is 24.01%.

In other news, Director L B. Day sold 3,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the transaction, the director now directly owns 9,238 shares in the company, valued at $783,567.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Eric Bjornholt sold 2,356 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $89.24, for a total value of $210,249.44. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its holdings in Microchip Technology by 0.9% in the third quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the period. Aristotle Capital Management LLC increased its holdings in Microchip Technology by 2.6% in the first quarter. Aristotle Capital Management LLC now owns 5,616,739 shares of the semiconductor company’s stock valued at $465,965,000 after purchasing an additional 143,606 shares during the period. Northern Trust Corp increased its holdings in Microchip Technology by 1.7% in the first quarter. Northern Trust Corp now owns 3,362,490 shares of the semiconductor company’s stock valued at $278,952,000 after purchasing an additional 55,625 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Microchip Technology by 4.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,164,119 shares of the semiconductor company’s stock valued at $227,564,000 after purchasing an additional 134,749 shares during the period. Finally, Norges Bank acquired a new stake in Microchip Technology in the fourth quarter valued at $155,541,000.

Microchip Technology Company Profile

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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