Microchip Technology Incorporated (MCHP) is set to release its fourth-quarter earnings after the market closes on May 6. Revenue is predicted to be $1.33 billion, down from $2.23 billion in the previous year. Earnings per share are expected to decrease to 57 cents from $1.64 in the same quarter last year.
On April 15, MCHP announced the acquisition of Neuronix AI Labs, although the terms of the deal were not disclosed. Despite this news, the company’s shares rose by 2.1% to close at $91.36 on Friday. Readers can access the latest analyst ratings for the company on Benzinga’s Analyst Stock Ratings page, where they can sort by various criteria.
Some of MCHP’s most accurate analysts have recently rated it on Benzinga’s platform. Stifel analyst Tore Svanberg maintained a Buy rating and raised the 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 the price target from $87 to $77 on Feb. 5. UBS analyst Pradeep Ramani kept a Buy rating and reduced the price target from $105 to $95 on Feb. 2