Microchip Technology Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Microchip Technology Incorporated (NASDAQ:MCHP) is set to release its Q4 earnings on May 6, with expectations of earnings at 57 cents per share, down from $1.64 the previous year, and revenue projected at $1.33 billion, down from $2.23 billion. The company recently acquired Neuronix AI Labs, terms undisclosed. Shares rose 2.1% to $91.36. Analysts have updated their ratings, with price targets ranging from $77 to $106.
May 06, 2024 | 11:59 am
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Microchip Technology is anticipated to report lower Q4 earnings and revenue, has acquired Neuronix AI Labs, and received varied analyst ratings with price targets between $77 and $106.
The anticipation of lower earnings and revenue for Q4 could pressure the stock, but the acquisition of Neuronix AI Labs and the recent analyst ratings with higher price targets suggest a balanced outlook. The mixed signals from analysts, with some raising and others lowering their price targets, indicate uncertainty but also potential for growth, especially with the strategic acquisition.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100