Microchip Technology Announces Financial Results For Fourth Quarter and Fiscal Year 2024
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Microchip Technology (MCHP) PT Raised to $104 at Citi
May 7, 2024 5:45 AM EDTCiti 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
