Microchip Technology (MCHP) Updates Q1 Earnings Guidance

Microchip Technology (NASDAQ:MCHP) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.26-1.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.56. The company issued revenue guidance of $1.26-1.40 billion, compared to the consensus revenue estimate of $1.39 billion.Microchip Technology also updated its Q1 2020 guidance to $1.26-1.49 EPS.

Several research firms have weighed in on MCHP. BidaskClub upgraded Microchip Technology from a sell rating to a hold rating in a report on Friday, April 5th. Rosenblatt Securities restated a buy rating and set a $115.00 target price on shares of Microchip Technology in a report on Monday. Needham & Company LLC lowered Microchip Technology from a strong-buy rating to a buy rating and cut their target price for the company from $100.00 to $90.00 in a report on Thursday, January 24th. Cowen assumed coverage on Microchip Technology in a research note on Friday, February 22nd. They issued a market perform rating and a $90.00 price objective on the stock. Finally, ValuEngine upgraded Microchip Technology from a sell rating to a hold rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $103.56.

Microchip Technology stock opened at $91.83 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.83 and a current ratio of 2.92. The stock has a market capitalization of $22.31 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31. Microchip Technology has a 52 week low of $60.70 and a 52 week high of $104.20.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 32.30% and a net margin of 6.53%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Analysts anticipate that Microchip Technology will post 5.9 EPS for the current year.

In related news, VP Mitchell R. Little sold 3,585 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $91.17, for a total transaction of $326,844.45. Following the transaction, the vice president now directly owns 7,693 shares in the company, valued at $701,370.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew W. Chapman sold 4,660 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $91.04, for a total value of $424,246.40. Following the transaction, the director now owns 19,080 shares in the company, valued at $1,737,043.20. The disclosure for this sale can be found here. Insiders have sold 14,101 shares of company stock worth $1,258,210 over the last 90 days. Corporate insiders own 2.13% of the company’s stock.

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Microchip Technology Company Profile

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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Earnings History and Estimates for Microchip Technology (NASDAQ:MCHP)

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