Microchip Technology (Nasdaq: MCHP) is expected to report Q1 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Microchip Technology's revenues will expand 29.1% and EPS will grow 10.4%.

The average estimate for revenue is $454.7 million. On the bottom line, the average EPS estimate is $0.53.

Revenue details
Last quarter, Microchip Technology logged revenue of $430.1 million. GAAP reported sales were 27% higher than the prior-year quarter's $338.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $0.52. GAAP EPS of $0.29 for Q4 were 26% lower than the prior-year quarter's $0.39 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 39.0%, much worse than the prior-year quarter. Operating margin was -1.7%, much worse than the prior-year quarter. Net margin was 13.9%, 990 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.87 billion. The average EPS estimate is $2.27.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 310 members out of 330 rating the stock outperform, and 20 members rating it underperform. Among 110 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 109 give Microchip Technology a green thumbs-up, and one give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Microchip Technology is outperform, with an average price target of $38.06.

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