Microchip shares fall on weak outlook [Yahoo! Finance]
Mercury Systems Inc (MRCY)
Last mercury systems inc earnings: 4/28 04:01 pm
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Source: Yahoo! Finance
The semiconductor company posted adjusted earnings per share of $0.46, surpassing the analyst estimate of $0.43. Revenue for the quarter came in at $1.16 billion, slightly above the consensus estimate of $1.15 billion but down 48.4% YoY. Microchip's outlook for the third quarter fell short of expectations. The company forecasts EPS of $0.25-$0.35, well below the consensus of $0.46. Revenue guidance of $1.025-1.095 billion also missed the analyst estimate of $1.18 billion. President and CEO Ganesh Moorthy cited an ongoing inventory correction and macroeconomic weakness, particularly in Europe, as factors impacting the company's performance. "The 'green shoots' we saw in recent quarters have progressed unevenly with essentially flat sequential bookings, normalized cancellation rates and much higher expedite requests," Moorthy stated. Despite the challenges, Microchip declared a record quarterly dividend of 45.5 cents per share, representing a 3.6% increase from the previous year.
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MRCY
News
- Mercury Systems, Inc. (NASDAQ: MRCY) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
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- Mercury Systems, Inc. (NASDAQ: MRCY) was upgraded by analysts at Jefferies Financial Group Inc. from an "underperform" rating to a "hold" rating. They now have a $42.00 price target on the stock, up previously from $30.00.MarketBeat
- Mercury Systems, Inc. (NASDAQ: MRCY) had its price target raised by analysts at JPMorgan Chase & Co. from $36.00 to $40.00. They now have a "neutral" rating on the stock.MarketBeat
MRCY
Earnings
- 11/5/24 - Beat
MRCY
Sec Filings
- 11/19/24 - Form 4
- 11/18/24 - Form 144
- 11/14/24 - Form SC
- MRCY's page on the SEC website