Microchip Technology’s Earnings Release: Analysts Weigh In with New Ratings and Price Targets

In the upcoming quarter, Microchip Technology Incorporated (MCHP) is set to release its fourth-quarter earnings after the market closes on May 6. Despite recent news of the acquisition of Neuronix AI Labs on April 15, analysts are predicting that the Chandler, Arizona-based company will report earnings of 57 cents per share, a decrease from $1.64 per share in the same quarter last year. Additionally, revenue is expected to be $1.33 billion, down from $2.23 billion in the previous year.

On Benzinga’s Analyst Stock Ratings page, readers can access the latest ratings for Microchip Technology from some of the most accurate analysts in the industry. Tore Svanberg of Stifel maintained a Buy rating and raised his price target from $98 to $102 on May 1. Evercore ISI Group analyst Mark Lipacis initiated coverage with an Outperform rating and a price target of $106 on April 16. Goldman Sachs analyst Toshiya Hari maintained a Neutral rating and lowered his price target from $87 to $77 on Feb. 5. UBS analyst Pradeep Ramani kept a Buy rating and reduced his price target from $105 to $95 on Feb. 2. Needham analyst Quinn Bolton maintained a Buy rating and increased his price target from $85 to $90 on Feb. 2