Microchip Technology Incorporated (NASDAQ:MCHP) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.30-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.30. The company issued revenue guidance of $971.7 million to $1.0121 billion, compared to the consensus revenue estimate of $984.46 million.

Shares of Microchip Technology Incorporated (MCHP) traded up $1.70 during trading on Monday, reaching $95.36. The company had a trading volume of 2,970,001 shares, compared to its average volume of 1,580,000. Microchip Technology Incorporated has a 52 week low of $59.45 and a 52 week high of $95.69. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.54 and a current ratio of 3.12. The company has a market capitalization of $21,800.00, a price-to-earnings ratio of 22.04, a PEG ratio of 2.38 and a beta of 1.05.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The business had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. sell-side analysts predict that Microchip Technology Incorporated will post 4.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.3625 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a yield of 1.52%. Microchip Technology’s dividend payout ratio is 77.13%.

A number of equities research analysts have issued reports on the company. B. Riley restated a buy rating and set a $120.00 price objective on shares of Microchip Technology in a research report on Friday, August 4th. Mizuho restated a neutral rating and set a $84.00 price objective (up from $80.00) on shares of Microchip Technology in a research report on Wednesday, August 9th. BidaskClub upgraded Microchip Technology from a hold rating to a buy rating in a research report on Wednesday, August 9th. Jefferies Group LLC restated a buy rating and set a $94.00 price objective (up from $92.00) on shares of Microchip Technology in a research report on Friday, August 4th. Finally, ValuEngine downgraded Microchip Technology from a buy rating to a hold rating in a research report on Saturday, September 30th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $93.75.

In other Microchip Technology 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Stephen V. Drehobl sold 3,076 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 value of $251,893.64. Following the transaction, the vice president now owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. Insiders have sold a total of 6,829 shares of company stock worth $561,905 over the last 90 days. 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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