Microchip Technology Incorporated MCHP reported better-than-expected earnings for its fourth quarter.
Microchip Technology posted quarterly earnings of $1.64 per share, beating market expectations of $1.62 per share. The company’s quarterly sales came in at $2.23 billion, versus estimates of $2.23 billion.
Microchip Technology said it sees FY24 adjusted EPS of $1.63 to $1.65 and net sales of $2.255 billion to $2.322 billion.
Microchip Technology shares fell 4.9% to $72.34 in pre-market trading.
These analysts made changes to their price targets on Microchip Technology following earnings announcement.
- Keybanc cut the price target on Microchip Technology from $100 to $95. Keybanc analyst Weston Twigg maintained an Overweight rating.
- Citigroup lowered the price target on Microchip Technology from $85 to $76. Citigroup analyst Christopher Danely maintained a Neutral rating
- Stifel lowered price target on Microchip Technology from $100 to $95. Stifel analyst Tore Svanberg maintained an Equal-Weight rating on the stock.
Check This Out: Apple, Kellogg And 3 Stocks To Watch Heading Into Thursday
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.