Microchip Technology (MCHP) Projected to Post Quarterly Earnings on Thursday

Microchip Technology (NASDAQ:MCHP) is projected to release its earnings data after the market closes on Thursday, February 6th. Analysts expect Microchip Technology to post earnings of $0.28 per share and revenue of $1.05 billion for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Tuesday, November 5th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Microchip Technology had a return on equity of 19.47% and a net margin of 14.22%. The business’s revenue for the quarter was down 48.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 EPS. On average, analysts expect Microchip Technology to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Microchip Technology Trading Up 0.7 %

MCHP stock opened at $52.60 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71. Microchip Technology has a twelve month low of $51.37 and a twelve month high of $100.57. The company has a market cap of $28.25 billion, a P/E ratio of 36.78 and a beta of 1.50. The business has a fifty day moving average of $58.94 and a 200-day moving average of $70.76.

Wall Street Analyst Weigh In

MCHP has been the subject of several recent research reports. StockNews.com raised Microchip Technology from a “sell” rating to a “hold” rating in a report on Friday, December 13th. B. Riley dropped their price target on shares of Microchip Technology from $93.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Citigroup reduced their price objective on shares of Microchip Technology from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. TD Cowen dropped their target price on shares of Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Microchip Technology presently has a consensus rating of “Moderate Buy” and an average price target of $81.67.

About Microchip Technology

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.