Analysts expect Microchip Technology Incorporated (NASDAQ:MCHP) to post sales of $1.65 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microchip Technology’s earnings. Microchip Technology reported sales of $1.31 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 26%. The company is scheduled to report its next quarterly earnings report on Thursday, November 4th.
According to Zacks, analysts expect that Microchip Technology will report full-year sales of $6.60 billion for the current year, with estimates ranging from $6.54 billion to $6.67 billion. For the next year, analysts expect that the business will post sales of $7.00 billion, with estimates ranging from $6.84 billion to $7.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Microchip Technology.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Tuesday, August 3rd. The semiconductor company reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.07. Microchip Technology had a return on equity of 32.10% and a net margin of 8.40%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company posted $1.56 earnings per share.
In related news, Director Wade F. Meyercord sold 692 shares of the stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $151.80, for a total transaction of $105,045.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wade F. Meyercord sold 500 shares of the stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $148.83, for a total value of $74,415.00. The disclosure for this sale can be found here. Corporate insiders own 2.03% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MCHP. Tortoise Investment Management LLC purchased a new stake in Microchip Technology during the second quarter valued at approximately $25,000. Assetmark Inc. raised its position in Microchip Technology by 45.7% during the second quarter. Assetmark Inc. now owns 220 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Certified Advisory Corp purchased a new stake in Microchip Technology during the first quarter valued at approximately $37,000. Cranbrook Wealth Management LLC purchased a new stake in Microchip Technology during the first quarter valued at approximately $53,000. Finally, Jacobi Capital Management LLC raised its position in Microchip Technology by 26.2% during the first quarter. Jacobi Capital Management LLC now owns 380 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 79 shares during the period. 89.22% of the stock is owned by institutional investors.
Shares of MCHP stock traded down $4.59 during mid-day trading on Monday, hitting $156.51. The company’s stock had a trading volume of 2,958,918 shares, compared to its average volume of 1,985,491. Microchip Technology has a 52-week low of $95.53 and a 52-week high of $166.67. The business has a 50-day moving average price of $149.14 and a 200 day moving average price of $150.44. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 1.98. The stock has a market cap of $42.89 billion, a price-to-earnings ratio of 92.07, a PEG ratio of 1.11 and a beta of 1.68.
Microchip Technology shares are scheduled to split on Tuesday, September 21st. The 2-1 split was announced on Tuesday, September 21st. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, September 21st.
The business also recently declared a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were given a $0.437 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, August 19th. This represents a $1.75 dividend on an annualized basis and a yield of 1.12%. Microchip Technology’s dividend payout ratio is presently 29.86%.
Microchip Technology Company Profile
Microchip Technology, Inc engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment involves in the designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products.
Read More: Hold Rating
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