Microchip Technology, Inc. (MCHP) – it’s time to buy. Check out key Indicators

In yesterday’s Wall Street session, Microchip Technology, Inc. (NASDAQ:MCHP) shares traded at $77.56, up 5.24% from the previous session.

As of this writing, 27 analysts cover Microchip Technology, Inc. (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 $73.00, we find $90.00. Given the previous closing price of $73.70, this indicates a potential upside of 22.12 percent. MCHP stock price is now 0.53% away from the 50-day moving average and -3.88% away from the 200-day moving average. The market capitalization of the company currently stands at $41.96B.

There are 9 analysts who have given it a hold rating, whereas 17 have given it a buy rating. Brokers who have rated the stock have averaged $88.99 as their price target over the next twelve months.

With the price target maintained at $100, Citigroup recently Upgraded its rating from Neutral to Buy for Microchip Technology, Inc. (NASDAQ: MCHP).

In other news, Johnson Karlton D, Director sold 1,062 shares of the company’s stock on Nov 07. The stock was sold for $79,862 at an average price of $75.20. Upon completion of the transaction, the Director now directly owns 2,659 shares in the company, valued at $0.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, Senior VP and CFO Bjornholt James Eric sold 2,363 shares of the business’s stock. A total of $185,803 was realized by selling the stock at an average price of $78.63. This leaves the insider owning 32,004 shares of the company worth $2.48 million. Insiders disposed of 138,850 shares of company stock worth roughly $10.77 million over the past 1 year. A total of 2.10% of the company’s stock is owned by insiders.

Friday morning saw Microchip Technology, Inc. (NASDAQ: MCHP) opened at $74.17. During the past 12 months, Microchip Technology, Inc. has had a low of $67.69 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 1.03, and a quick ratio of 0.64. According to the stock market information, the enterprise value for the company is $47.81B, which is based on a 17.02 price-to-earnings ratio, a 1.41 price-to-earnings-growth ratio, and a beta of 1.59. The fifty day moving average price for MCHP is $77.07 and a two-hundred day moving average price translates $80.68 for the stock.

The latest earnings results from Microchip Technology, Inc. (NASDAQ: MCHP) was released for Sep, 2023. According to the Semiconductors Company, earnings per share came in at $1.64, inline with analysts’ expectations of $1.64. This compares to $0.98 EPS in the same period last year. The net profit margin was 28.14% and return on equity was 38.52% for MCHP. The company reported revenue of $2.25 billion for the quarter, compared to $2.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.74 percent. For the current quarter, analysts expect MCHP to generate $2.27B in revenue.

Microchip Technology, Inc.(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.