Microchip Technology (MCHP) Scheduled to Post Earnings on Monday

Microchip Technology (NASDAQ:MCHP - Get Free Report) will issue its quarterly earnings data after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. Microchip Technology has set its Q4 guidance at $0.46-$0.68 EPS and its Q4 2024 guidance at 0.460-0.680 EPS.Persons interested in participating in the company's earnings conference call can do so using this link.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.77 billion for 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%. During the same quarter in the prior year, the business earned $1.48 earnings per share. The business's revenue for the quarter was down 18.6% on a year-over-year basis. 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 Price Performance

NASDAQ:MCHP traded down $0.42 during mid-day trading on Monday, reaching $93.18. 6,106,081 shares of the company were exchanged, compared to its average volume of 5,566,188. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The stock has a market cap of $50.35 billion, a PE ratio of 21.77, a PEG ratio of 2.86 and a beta of 1.65. Microchip Technology has a 12 month low of $68.75 and a 12 month high of $94.63. The company has a fifty day moving average of $87.47 and a 200 day moving average of $84.79.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Microchip Technology's previous quarterly dividend of $0.44. Microchip Technology's dividend payout ratio (DPR) is currently 42.06%.

Insider Buying and Selling at Microchip Technology

In other news, Director Karlton D. Johnson sold 370 shares of the firm's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now owns 1,789 shares of the company's stock, valued at $150,276. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Karlton D. Johnson sold 370 shares of the company's 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 can be accessed through this link. Also, CFO James Eric Bjornholt sold 1,970 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $83.90, for a total transaction of $165,283.00. Following the sale, the chief financial officer now owns 32,893 shares in the company, valued at $2,759,722.70. The disclosure for this sale can be found here. Insiders own 2.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler downgraded Microchip Technology from an "overweight" rating to a "neutral" rating and set a $80.00 target price for the company. in a research report on Thursday, January 4th. Needham & Company LLC upped their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 2nd. Evercore ISI assumed coverage on shares of Microchip Technology in a research report on Tuesday, April 16th. They set an "outperform" rating and a $106.00 price target for the company. Susquehanna reaffirmed a "positive" rating and issued a $100.00 price objective on shares of Microchip Technology in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their target price on shares of Microchip Technology from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.50.

Microchip Technology Company Profile

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.