Microchip Technology Inc. (NASDAQ:MCHP) Expected to Post Earnings of $1.31 Per Share
Brokerages forecast that Microchip Technology Inc. (NASDAQ:MCHP) will report earnings of $1.31 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Microchip Technology’s earnings. The lowest EPS estimate is $1.28 and the highest is $1.33. Microchip Technology reported earnings of $1.68 per share in the same quarter last year, which indicates a negative year over year growth rate of 22%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that Microchip Technology will report full-year earnings of $5.27 per share for the current fiscal year, with EPS estimates ranging from $5.16 to $5.33. For the next year, analysts forecast that the business will report earnings of $6.44 per share, with EPS estimates ranging from $6.21 to $6.63. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.16. Microchip Technology had a return on equity of 27.79% and a net margin of 6.79%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis.
NASDAQ:MCHP opened at $95.00 on Tuesday. The firm has a market capitalization of $22.73 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.46 and a beta of 1.41. The company has a current ratio of 0.93, a quick ratio of 0.63 and a debt-to-equity ratio of 1.65. The business’s 50-day moving average price is $89.41 and its two-hundred day moving average price is $88.71. Microchip Technology has a 1-year low of $60.70 and a 1-year high of $101.35.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were issued a dividend of $0.366 per share. The ex-dividend date was Tuesday, August 20th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.54%. Microchip Technology’s dividend payout ratio (DPR) is presently 24.01%.
In related news, VP Richard J. Simoncic sold 3,437 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total transaction of $304,518.20. Following the completion of the transaction, the vice president now directly owns 18,178 shares in the company, valued at $1,610,570.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,937 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $88.60, for a total value of $171,618.20. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Microchip Technology by 1.5% during the second quarter. Vanguard Group Inc. now owns 27,539,982 shares of the semiconductor company’s stock worth $2,387,716,000 after buying an additional 395,287 shares in the last quarter. Northern Trust Corp grew its stake in Microchip Technology by 2.6% in the second quarter. Northern Trust Corp now owns 3,448,892 shares of the semiconductor company’s stock valued at $299,019,000 after purchasing an additional 86,402 shares in the last quarter. Waddell & Reed Financial Inc. grew its stake in Microchip Technology by 1.8% in the second quarter. Waddell & Reed Financial Inc. now owns 2,925,064 shares of the semiconductor company’s stock valued at $253,603,000 after purchasing an additional 52,557 shares in the last quarter. Winslow Capital Management LLC bought a new position in Microchip Technology in the second quarter valued at approximately $221,600,000. Finally, Platinum Investment Management Ltd. grew its stake in Microchip Technology by 16.7% in the second quarter. Platinum Investment Management Ltd. now owns 2,062,349 shares of the semiconductor company’s stock valued at $178,806,000 after purchasing an additional 295,823 shares in the last quarter.
About Microchip Technology
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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