Microchip Technology Increases Quarterly Cash Dividend 18.0% Year-Over-Year to 45.2 Cents Per Share

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Go back to Microchip Technology Increases Quarterly Cash Dividend 18.0% Year-Over-Year to 45.2 Cents Per Share

Microchip Technology (MCHP) PT Raised to $104 at Citi

May 7, 2024 5:45 AM EDT

Citi analyst Christopher Danely raised the price target on Microchip Technology (NASDAQ: MCHP) to $104.00 (from $100.00) while maintaining a Buy rating.

The analyst comments "Yesterday, Microchip reported in-line results but guided the June quarter lower as the inventory build is worse than expected.... More

Microchip (MCHP) stock down as guidance falls short; Q4 results in line

May 6, 2024 4:25 PM EDT

(Updated - May 7, 2024 4:55 AM EDT)

Shares of Microchip Technology (NASDAQ: MCHP) fell more than 4% in premarket trading Tuesday after the company issued fiscal Q1 2025 guidance below analyst estimates.

For the fiscal Q4 2024, Microchip reported earnings per share (EPS) of $0.57, matching consensus expectations. The quarterly revenue totaled $1.33 billion, also aligning with the consensus projections.

However, MCHP forecasts first-quarter 2025 EPS to range between $0.48 and $0.56, falling short of the analyst estimates of $0.57. Similarly, it projects revenue for that quarter to be between $1.22 billion and $1.26 billion, also missing the forecasted $1.34 billion.

Moreover, the... More