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

Microchip Technology (NASDAQ:MCHP) is expected to issue its quarterly 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. Investors that wish to register for the company’s 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 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. Microchip Technology had a net margin of 14.22% and a return on equity of 19.47%. Microchip Technology’s quarterly revenue was down 48.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 earnings per share. 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 Stock Performance

MCHP stock opened at $52.26 on Tuesday. Microchip Technology has a twelve month low of $51.37 and a twelve month high of $100.57. The business’s fifty day simple moving average is $59.29 and its two-hundred day simple moving average is $71.03. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 36.55 and a beta of 1.50. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 0.71.

Analyst Upgrades and Downgrades

MCHP has been the subject of a number of research reports. TD Cowen lowered their price target on Microchip Technology from $80.00 to $70.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. StockNews.com upgraded shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. KeyCorp lowered their target price on shares of Microchip Technology from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group reduced their price target on Microchip Technology from $72.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Jefferies Financial Group lowered their price objective on Microchip Technology from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.00.

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.