Microchip Technology (MCHP) Updates Q1 2020 Earnings Guidance

Microchip Technology (NASDAQ:MCHP) issued an update on its first quarter 2020 earnings guidance on Wednesday morning. 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 $1.54. The company issued revenue guidance of $1.26-1.4 billion, compared to the consensus revenue estimate of $1.39 billion.Microchip Technology also updated its Q1 guidance to $1.26-1.49 EPS.

Several brokerages recently commented on MCHP. BidaskClub cut Microchip Technology from a hold rating to a sell rating in a report on Monday, May 20th. Zacks Investment Research lowered Microchip Technology from a hold rating to a sell rating in a research report on Tuesday, May 14th. BMO Capital Markets cut their target price on Microchip Technology from $118.00 to $110.00 and set an outperform rating for the company in a research note on Thursday, May 9th. Mizuho lifted their price target on Microchip Technology from $95.00 to $100.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, B. Riley lifted their price target on Microchip Technology from $105.00 to $125.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $103.61.

NASDAQ MCHP opened at $81.34 on Friday. The stock has a market capitalization of $19.09 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.07 and a beta of 1.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.93 and a quick ratio of 0.63. Microchip Technology has a twelve month low of $60.70 and a twelve month high of $104.20.

Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Microchip Technology had a return on equity of 29.27% and a net margin of 6.65%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. Equities research analysts predict that Microchip Technology will post 5.6 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $0.3655 dividend. This represents a $1.46 annualized dividend and a dividend yield of 1.80%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, May 20th. Microchip Technology’s dividend payout ratio is presently 24.01%.

In other Microchip Technology news, Director L B. Day sold 3,500 shares of Microchip Technology stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the transaction, the director now owns 9,238 shares in the company, valued at approximately $783,567.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Eric Bjornholt sold 2,188 shares of Microchip Technology stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.99, for a total value of $177,206.12. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

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About Microchip Technology

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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