Microchip Technology (MCHP) closed the most recent trading day at $97.65, moving -1.56% from the previous trading session. This change was narrower than the S&P 500’s 2.37% loss on the day. Elsewhere, the Dow lost 1.92%, while the tech-heavy Nasdaq lost 3.02%.
Prior to today’s trading, shares of the chipmaker had lost 8.99% over the past month. This has lagged the Computer and Technology sector’s loss of 2.69% and the S&P 500’s loss of 2.31% in that time.
Investors will be hoping for strength from MCHP as it approaches its next earnings release. The company is expected to report EPS of $1.42, down 0.7% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.26 billion, down 5.93% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.91 per share and revenue of $5.17 billion.