Microchip Technology Incorporated (NASDAQ:MCHP) manufacturer of semiconductor products, is expected to report second quarter earnings results, after market close, on Thursday 5th November 2020.
Analysts polled by Thomson Reuters anticipate second quarter income of $ 1.43 per share.
Looking ahead, the full year income are expected at $ 5.90 per share on the revenues of $ 5171.71 million.
The Company Outlook
Earnings for 2Q21 are anticipated in a range of $ 1.36 ~ $ 1.46 per share, while revenues are expected in a range of $ 1,231.00 million ~ $ 1,284.00 million
Click Here For More Historical Outlooks Of Microchip Technology Incorporated
Previous Quarter Performance
Microchip Technology Incorporated communicated income for the first quarter of $ 1.56 per share, from the revenue of $ 1,310.00 million. The quarterly earnings escalated 10.64 percent while revenues down 0.95 percent compared with the same quarter last year.
Wall street analysts are predicting, MCHP to report 1Q21 income of $ 1.43 per share from revenue of $ 1281.42 million. The bottom line results beat street analysts by $ 0.13 or 9.09 percent, at the same time, top line results outshined analysts by $ 28.58 million or 2.23 percent.
Stock Performance
Shares of Microchip Technology Incorporated traded up $ 4.35 or 3.99 percent on Wednesday, reaching $ 113.32 with volume of 1.94 million shares. Microchip Technology Incorporated has traded high as $ 114.07 and has cracked $ 108.54 on the downward trend
The closing price of $ 113.32, representing a 105.02 % increase from the 52 week low of $ 53.15 and a 6.51 % decrease over the 52 week high of $ 116.56.
The company has a market capital of $ 28.61 billion and is part of the Technology sector and Semiconductors industry.
Recent Analyst recommendations
- On 19th October 2020, upgraded by Morgan Stanley to Overweight from Equal-Weight rating
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.368 per share on August 4, 2020. The dividend were payable on September 4, 2020 to holders of record as of the close of business on August 21, 2020 and ex-dividend date on August 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.
