Microchip Technology Incorporated (NASDAQ:MCHP) manufacturer of semiconductor products, is reporting first quarter earnings results on Tuesday 4th August 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.43 per share.
For the full year, analysts predict revenues of $ 5158.56 million, while looking forward to income of $ 5.83 per share.
The Company Outlook
Revenue for 1Q21 are expected in a range of $ 1,247.00 million ~ $ 1,326.00 million
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Previous Quarter Performance
Microchip Technology Incorporated unwinded income for the fourth quarter of $ 1.46 per share, from the revenue of $ 1,326.00 million. Street analysts expected Microchip Technology Incorporated to report income of $ 1.35 per share on revenue of $ 1,320.00 million for the fourth quarter. The bottom line results beat street analysts by $ 0.11 or 8.15 percent, at the same time, top line results outshined analysts by $ 6.00 million or 0.45 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of MCHP was $ 104.87, representing a 97.31 % increase from the 52 week low of $ 53.15 and a 7.42 % decrease over the 52 week high of $ 113.28.
The company has a market capital of $ 26.47 billion and is part of the Technology sector and Semiconductors industry.
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Recent Analyst recommendations
- On 13th July 2020, maintained by Raymond James at Strong Buy rating, with $ 125.00 target price.
- On 7th July 2020, maintained by KeyBanc at Overweight rating, with $ 115.00 target price.
- On 16th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 109.00 target price.
Recent Stock Dividend Announcement
On May 7, 2020, the board of directors authorized quarterly dividend of $ 0.3675 per share to holders of record as of the close of business on May 21, 2020, with payment date of June 4, 2020 and ex-dividend date on May 20, 2020.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive, industrial, computing, communication, lighting, power supplies, motor control, human machine interface, security, and wired and wireless connectivity applications. It also provides development tools that enable system designers to program microcontroller products for specific applications; field-programmable gate array (FPGA) products; and analog, power, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, discrete diodes and metal oxide semiconductor field effect transistors (MOSFETS), radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products.
