Microchip Technology Incorporated (MCHP) is set to release its fourth-quarter earnings results on May 6 after the market closes. According to data from Benzinga Pro, analysts predict that the company, based in Chandler, Arizona, will report earnings of 57 cents per share, a decrease from $1.64 per share in the same quarter last year. Revenue is expected to come in at $1.33 billion, down from $2.23 billion in the prior-year quarter.
On April 15, Microchip Technology announced the acquisition of Neuronix AI Labs. While specific terms of the deal were not disclosed, the company’s shares rose 2.1% to close at $91.36 on Friday. Investors can access the latest analyst ratings for Microchip Technology on the Analyst Stock Ratings page on Benzinga, where they can sort by variables such as stock ticker, company name, and rating changes.
In recent reports, several analysts have provided insights into Microchip Technology’s performance and outlook for future growth. Stifel analyst Tore Svanberg maintained a Buy rating and increased the price target from $98 to $102 on May 1 with an accuracy rate of 77%. Evercore ISI Group analyst Mark Lipacis initiated coverage with an Outperform rating and a price target of $106 on April 16 with an accuracy rate of 78%. Additionally, Goldman Sachs, UBS, and Needham have also provided their ratings and price targets for Microchip Technology.
As investors await the earnings release, it is clear that they are closely watching Microchip Technology and its performance in this current quarter. This information is crucial for making informed decisions about the company’s outlook and potential for growth.
Investors should keep an eye on Microchip Technology’s fourth-quarter earnings results which will be released after market closes on May 6th. Analysts predict that the company will report earnings of 57 cents per share and revenue of $1.33 billion despite being lower than last year’s quarterly results.
Recent reports have shown that several analysts have provided insights into Microchip Technology’s performance and future growth prospects.
Stifel analyst Tore Svanberg has maintained a Buy rating and increased his price target from $98 to $102 with an accuracy rate of 77% as of May 1st.
Evercore ISI Group analyst Mark Lipacis initiated coverage with an Outperform rating and a price target of $106 with an accuracy rate of 78% as of April 16th.
Additionally, Goldman Sachs, UBS, and Needham have also provided their ratings and price targets for Microchip Technology.
As investors wait for the earnings release
