Microchip Technology Incorporated (NASDAQ:MCHP) shares traded 2.22% higher at $78.30 on Wall Street last session.
In accordance with the data, 25 analysts cover Microchip Technology Incorporated (NASDAQ:MCHP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $125.00 and a low of $76.00, we find $95.00. Given the previous closing price of $76.60, this indicates a potential upside of 24.02 percent. MCHP stock price is now -0.34% away from the 50-day moving average and 6.99% away from the 200-day moving average. The market capitalization of the company currently stands at $42.51B.
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It has been rated a hold by 8 analysts and a buy by 16. Brokers who have rated the stock have averaged $95.36 as their price target over the next twelve months.
With the price target reduced from $85 to $80, TD Cowen maintained Market Perform rating for Microchip Technology Incorporated (NASDAQ: MCHP). On November 16, 2022, Credit Suisse recently initiated its ‘Neutral’ rating on the stock quoting a target price of $85, while ‘Stifel’ rates the stock as ‘Buy’.
In other news, Bjornholt James Eric, Senior VP and CFO sold 2,777 shares of the company’s stock on Feb 23. The stock was sold for $226,548 at an average price of $81.58. Upon completion of the transaction, the Senior VP and CFO now directly owns 30,582 shares in the company, valued at $2.39 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23, Director Johnson Karlton D sold 396 shares of the business’s stock. A total of $32,076 was realized by selling the stock at an average price of $81.00. This leaves the insider owning 973 shares of the company worth $76185.9. Insiders disposed of 120,455 shares of company stock worth roughly $9.43 million over the past 1 year. A total of 2.09% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MCHP stock. A new stake in Microchip Technology Incorporated shares was purchased by MIZUHO MARKETS CAYMAN LP during the first quarter worth $281,027,000. FINDLAY PARK PARTNERS LLP invested $71,156,000 in shares of MCHP during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Microchip Technology Incorporated valued at approximately $26,623,000. GODSEY & GIBB, INC acquired a new stake in MCHP for approximately $20,748,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in MCHP valued at around $18,354,000 in the second quarter. In total, there are 1,499 active investors with 93.30% ownership of the company’s stock.
Microchip Technology Incorporated (NASDAQ: MCHP) opened at $77.14 on Thursday. During the past 12 months, Microchip Technology Incorporated has had a low of $54.33 and a high of $87.76. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.80, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $47.39B, which is based on a 21.16 price-to-earnings ratio, a 1.53 price-to-earnings-growth ratio, and a beta of 1.56. The fifty day moving average price for MCHP is $78.44 and a two-hundred day moving average price translates $73.23 for the stock.
The latest earnings results from Microchip Technology Incorporated (NASDAQ: MCHP) was released for Mar, 2023. According to the Semiconductors Company, earnings per share came in at $1.64, beating analysts’ expectations of $1.62 by 0.02. This compares to $0.77 EPS in the same period last year. The net profit margin was 25.70% and return on equity was 34.10% for MCHP. The company reported revenue of $2.23 billion for the quarter, compared to $1.84 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.07 percent. For the current quarter, analysts expect MCHP to generate $2.29B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/05/2023. Investors who held shares on 05/22/2023 were paid a $0.383 dividend. On an annualized basis, this represents a $1.53 dividend and a 1.96% percent yield. There was an ex-dividend date of 05/19/2023 for this dividend. In terms of dividend payout ratio, MCHP is presently at 30.90%.
Microchip Technology Incorporated(MCHP) Company Profile
Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors markets; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications. It also provides development tools that enable system designers to program microcontroller and microprocessor products for specific applications; field-programmable gate array (FPGA) products; and analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, discrete diodes and metal oxide semiconductor field effect transistors (MOSFETS), radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products. In addition, the company offers memory products consisting of serial electrically erasable programmable read-only memory, serial flash memories, parallel flash memories, serial static random access memories, and serial electrically erasable random access memories for the production of very small footprint devices; and licenses its SuperFlash embedded flash and NVM technologies to foundries, integrated device manufacturers, and design partners for use in the manufacture of microcontroller products, gate array, RF, analog, and neuromorphic compute products that require embedded non-volatile memory, as well as provides engineering services. Further, it offers wafer foundry and assembly, and test subcontracting manufacturing services; and timing systems products, application specific integrated circuits, and aerospace products. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.
