Stocks of Microchip Technology Incorporated (NASDAQ:MCHP) traded higher last session on Wall Street, down -2.42% to $79.10.
According to the data, Microchip Technology Incorporated (NASDAQ:MCHP) has 27 analysts covering its stock. 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 $81.06, this indicates a potential upside of 23.37 percent. MCHP stock price is now -8.01% away from the 50-day moving average and -1.16% away from the 200-day moving average. The market capitalization of the company currently stands at $42.82B.
A total of 10 analysts have issued a hold rating and 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 2,363 shares of the company’s stock on Aug 23. The stock was sold for $185,803 at an average price of $78.63. Upon completion of the transaction, the Senior VP and CFO now directly owns 32,004 shares in the company, valued at $2.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 23, Senior VP and CFO Bjornholt James Eric sold 2,470 shares of the business’s stock. A total of $193,450 was realized by selling the stock at an average price of $78.32. This leaves the insider owning 32,004 shares of the company worth $2.53 million. Insiders disposed of 116,054 shares of company stock worth roughly $9.18 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 APPLIED FINANCE CAPITAL MANAGEMENT, LLC during the first quarter worth $22,425,000. AIGH CAPITAL MANAGEMENT LLC invested $19,775,000 in shares of MCHP during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Microchip Technology Incorporated valued at approximately $12,336,000. GYROSCOPE CAPITAL MANAGEMENT GROUP, LLC acquired a new stake in MCHP for approximately $10,873,000. OVERBROOK MANAGEMENT CORP purchased a new stake in MCHP valued at around $9,351,000 in the second quarter. In total, there are 1,563 active investors with 93.30% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $79.12 for Microchip Technology Incorporated (NASDAQ: MCHP). 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 0.88, 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 $49.92B, which is based on a 18.30 price-to-earnings ratio, a 1.51 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for MCHP is $85.83 and a two-hundred day moving average price translates $80.05 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, inline with analysts’ expectations of $1.64. This compares to $0.90 EPS in the same period last year. The net profit margin was 27.40% and return on equity was 37.20% 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 $2.27B 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 $1.64 dividend and a 2.07% 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 31.30%.
