FY2028 Earnings Forecast for MCHP Issued By Zacks Research

Microchip Technology Incorporated (NASDAQ:MCHP - Free Report) - Analysts at Zacks Research issued their FY2028 EPS estimates for Microchip Technology in a research report issued to clients and investors on Thursday, May 29th. Zacks Research analyst R. Department anticipates that the semiconductor company will post earnings of $2.65 per share for the year. The consensus estimate for Microchip Technology's current full-year earnings is $1.03 per share.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $970.50 million during the quarter, compared to the consensus estimate of $962.86 million. Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. Microchip Technology's revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS.

Several other research analysts have also recently weighed in on MCHP. Stifel Nicolaus increased their price objective on Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on shares of Microchip Technology from $39.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. UBS Group lifted their price objective on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday. B. Riley boosted their price objective on shares of Microchip Technology from $60.00 to $75.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Raymond James raised their target price on shares of Microchip Technology from $60.00 to $65.00 and gave the stock a "strong-buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.68.

Microchip Technology Stock Performance

NASDAQ:MCHP traded up $3.84 during mid-day trading on Monday, hitting $63.84. 16,319,835 shares of the stock were exchanged, compared to its average volume of 8,675,229. The firm's 50-day simple moving average is $48.71 and its 200 day simple moving average is $54.84. The stock has a market capitalization of $34.44 billion, a price-to-earnings ratio of 114.00 and a beta of 1.42. Microchip Technology has a fifty-two week low of $34.13 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MCHP. Mainstream Capital Management LLC acquired a new position in Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. increased its holdings in Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock valued at $27,000 after purchasing an additional 359 shares during the period. OFI Invest Asset Management acquired a new stake in Microchip Technology in the fourth quarter valued at $29,000. Garde Capital Inc. bought a new position in Microchip Technology during the 1st quarter worth $30,000. Finally, Financial Life Planners acquired a new position in Microchip Technology during the 4th quarter worth about $32,000. Institutional investors own 91.51% of the company's stock.

Insider Activity

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,015 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $55.78, for a total value of $112,396.70. Following the completion of the transaction, the chief financial officer now owns 34,313 shares of the company's stock, valued at $1,913,979.14. This represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karlton D. Johnson sold 494 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $60.69, for a total value of $29,980.86. Following the sale, the director now owns 3,468 shares in the company, valued at approximately $210,472.92. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Microchip Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.85%. Microchip Technology's payout ratio is currently -18,200.00%.

Microchip Technology Company Profile

Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal 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.