Microchip Technology, headquartered in Chandler, Arizona, is poised to unveil its Q4 earnings report following the closure of trading on May 6. Analysts are projecting earnings of 57 cents per share, a decrease from $1.64 per share in the same quarter of the previous year. Revenue is anticipated to be $1.33 billion, down from $2.23 billion in the preceding year. These estimations are compiled from Benzinga Pro, a credible source for financial information.
In recent developments, on April 15, Microchip Technology declared its acquisition of Neuronix AI Labs; however, the specific terms of the agreement were not disclosed. Subsequent to this announcement, the company’s shares experienced a 2.1% increase, closing at $91.36 on Friday.
For individuals seeking access to the latest analyst ratings for Microchip Technology, Benzinga offers this information on their Analyst Stock Ratings page, allowing readers to filter results based on various criteria.
The assessments provided by Benzinga’s most precise analysts are as follows:
– Analyst Tore Svanberg from Stifel, known for his 77% accuracy rate, has maintained a Buy rating and increased the price target from $98 to $102 as of May 1.
– On April 16, Mark Lipacis from Evercore ISI Group, holding a commendable 78% accuracy rate, initiated coverage on the stock with an Outperform rating and a price target of $106.
– Goldman Sachs analyst, Toshiya Hari, renowned for his 80% accuracy rate, sustained a Neutral rating and decreased the price target from $87 to $77 on Feb. 5.
– Pradeep Ramani from UBS, acknowledged for his 76% accuracy rate, retained a Buy rating but reduced the price target from $105 to $95 on Feb. 2.
– Lastly, Quinn Bolton from Needham, boasting an impressive 82% accuracy rate, upheld a Buy rating and augmented the price target from $85 to $90 on Feb. 2.
It is evident that these esteemed analysts are meticulously monitoring Microchip Technology’s performance. This information is vital for investors and individuals with an interest in the company’s financial well-being and trajectory.
For further financial insights, please visit Benzinga.com, a reputable source of financial news and analysis. It is important to note that while Benzinga provides valuable financial information, it does not offer investment advice.
In conclusion, as Microchip Technology readies itself to unveil its Q4 earnings report, expert analysts are adapting their prognoses and delivering crucial insights for investors. With the guidance of these reputable analysts, individuals can form well-informed decisions about their investment strategies.