Microchip Technology Inc reports results for the quarter ended December 31 - Earnings Summary

• Microchip Technology Inc MCHP.OQ reported quarterly adjusted earnings of 20 cents​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $1.08. The mean expectation of twenty analysts for the quarter was for earnings of 27 cents per share. Wall Street expected results to range from 22 cents to 32 cents per share.

• Revenue fell 41.9% to $1.03 billion from a year ago; analysts expected $1.06 billion.

• Microchip Technology Inc's reported EPS for the quarter was a loss of 10 cents​.

• The company reported a quarterly loss of $53.6 million.

• Microchip Technology Inc shares had fallen by 6.7% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 10.1% in the last three months.​

• In the last 30 days, seven analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell."

• The average consensus recommendation for the semiconductors peer group is also "buy"

Wall Street's median 12-month price target for Microchip Technology Inc is $72.00

This summary was machine generated from LSEG data February 7 at 12:58 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)