Countdown to Microchip Tech (MCHP) Q3 Earnings: Wall Street Forecasts for Key Metrics
The upcoming report from Microchip Technology (MCHP) is expected to reveal quarterly earnings of $1.06 per share, indicating a decline of 32.1% compared to the year-ago period. Analysts forecast revenues of $1.79 billion, representing a decrease of 17.4% year over year.
Over the last 30 days, there has been a downward revision of 5.2% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Microchip Tech metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Net Sales- Mixed-signal Microcontrollers' to come in at $994.82 million. The estimate points to a change of -18.5% from the year-ago quarter.
It is projected by analysts that the 'Net Sales- Other' will reach $284.35 million. The estimate indicates a change of -16.7% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Analog' of $499.55 million. The estimate indicates a year-over-year change of -17.6%.
View all Key Company Metrics for Microchip Tech here>>>
Over the past month, Microchip Tech shares have recorded returns of -3.6% versus the Zacks S&P 500 composite's +2.5% change. Based on its Zacks Rank #5 (Strong Sell), MCHP will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report
