Analog chipmaker Microchip Technology (NASDAQ: MCHP) will be announcing earnings results this Thursday afternoon. Here’s what to look for.
Microchip Technology beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $1.08 billion, down 13.4% year on year. It was an exceptional quarter for the company, with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Is Microchip Technology a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Microchip Technology’s revenue to decline 2.3% year on year to $1.14 billion, improving from the 48.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.33 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Microchip Technology has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Microchip Technology’s peers in the analog semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Skyworks Solutions delivered year-on-year revenue growth of 7.3%, beating analysts’ expectations by 5.4%, and Impinj reported flat revenue, topping estimates by 3.6%. Impinj traded down 15% following the results.
Read our full analysis of Skyworks Solutions’s results here and Impinj’s results here.
Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the analog semiconductors stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.1% on average over the last month. Microchip Technology is down 11.3% during the same time and is heading into earnings with an average analyst price target of $76.40 (compared to the current share price of $59.05).
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