Wall Street analysts expect Microchip Technology (MCHP) to post quarterly earnings of $0.43 per share in its upcoming report, which indicates a year-over-year increase of 115%. Revenues are expected to be $1.19 billion, up 15.5% from the year-ago quarter.
Over the last 30 days, there has been an upward revision of 9.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Microchip Tech metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Net Sales- Mixed-signal Microcontrollers' should arrive at $593.15 million. The estimate suggests a change of +11.2% year over year.
It is projected by analysts that the 'Net Sales- Other' will reach $242.65 million. The estimate indicates a year-over-year change of +10.3%.
Analysts forecast 'Net Sales- Analog' to reach $330.77 million. The estimate indicates a change of +21.3% from the prior-year quarter.
View all Key Company Metrics for Microchip Tech here>>>
Microchip Tech shares have witnessed a change of +16.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.7% move. With a Zacks Rank #1 (Strong Buy), MCHP is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microchip Technology Incorporated (MCHP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
