In yesterday’s Wall Street session, Microchip Technology Incorporated (NASDAQ:MCHP) shares traded at $84.81, up 1.62% from the previous session.
As of this writing, 27 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 $110.00 and a low of $85.00, we find $100.00. Given the previous closing price of $83.46, this indicates a potential upside of 19.82 percent. MCHP stock price is now -0.86% away from the 50-day moving average and 8.37% away from the 200-day moving average. The market capitalization of the company currently stands at $49.52B.
There are 10 analysts who have given it a hold rating, whereas 17 have given it a buy rating. Brokers who have rated the stock have averaged $97.65 as their price target over the next twelve months.
In other news, Bjornholt James Eric, Senior VP and CFO sold 2,470 shares of the company’s stock on May 23. The stock was sold for $193,450 at an average price of $78.32. Upon completion of the transaction, the Senior VP and CFO now directly owns 32,004 shares in the company, valued at $2.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 23, Senior VP and CFO Bjornholt James Eric sold 2,777 shares of the business’s stock. A total of $226,548 was realized by selling the stock at an average price of $81.58. This leaves the insider owning 30,582 shares of the company worth $2.59 million. Insiders disposed of 141,449 shares of company stock worth roughly $12.0 million over the past 1 year. A total of 2.13% 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 $304,392,000. WALLEYE CAPITAL LLC invested $28,837,000 in shares of MCHP during the first quarter. In the first quarter, CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in Microchip Technology Incorporated valued at approximately $19,880,000. SCOUT INVESTMENTS, INC. acquired a new stake in MCHP for approximately $13,847,000. EISLER CAPITAL (UK) LTD. purchased a new stake in MCHP valued at around $11,518,000 in the second quarter. In total, there are 1,563 active investors with 93.30% ownership of the company’s stock.
Monday morning saw Microchip Technology Incorporated (NASDAQ: MCHP) opened at $83.69. During the past 12 months, Microchip Technology Incorporated has had a low of $54.77 and a high of $94.30. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 1.00, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $51.96B, which is based on a 21.11 price-to-earnings ratio, a 1.74 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for MCHP is $85.77 and a two-hundred day moving average price translates $78.39 for the stock.
The latest earnings results from Microchip Technology Incorporated (NASDAQ: MCHP) was released for Jun, 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 $0.90 EPS in the same period last year. The net profit margin was 24.50% and return on equity was 33.30% for MCHP. The company reported revenue of $2.29 billion for the quarter, compared to $1.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.55 percent. For the current quarter, analysts expect MCHP to generate $2.29B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/05/2023. Investors who held shares on 08/22/2023 were paid a $0.41 dividend. On an annualized basis, this represents a $1.53 dividend and a 1.81% percent yield. There was an ex-dividend date of 08/21/2023 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 mixed-signal microprocessors; 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 application development tools that enable system designers to program microcontroller, FPGA, 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 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 non-volatile memory 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.
