Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) has been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $88.82.
A number of equities analysts have recently commented on MCHP shares. Bank of America reduced their price objective on shares of Microchip Technology from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Mizuho raised their target price on shares of Microchip Technology from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. B. Riley raised their target price on shares of Microchip Technology from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $75.00 in a research note on Tuesday, June 28th. Finally, Citigroup cut their target price on shares of Microchip Technology from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, October 11th.
Microchip Technology Price Performance
MCHP stock opened at $57.31 on Monday. The stock has a 50-day moving average price of $65.90 and a two-hundred day moving average price of $65.66. The stock has a market cap of $31.66 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 0.75 and a beta of 1.56. The company has a current ratio of 1.78, a quick ratio of 1.17 and a debt-to-equity ratio of 1.27. Microchip Technology has a 1 year low of $54.33 and a 1 year high of $90.00.
Microchip Technology (NASDAQ:MCHP – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Microchip Technology had a net margin of 21.34% and a return on equity of 44.90%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $0.88 EPS. Equities analysts forecast that Microchip Technology will post 5.42 EPS for the current fiscal year.
Microchip Technology Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were paid a $0.301 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, August 18th. Microchip Technology’s dividend payout ratio (DPR) is 44.12%.
Insider Activity at Microchip Technology
In related news, CFO James Eric Bjornholt sold 2,379 shares of Microchip Technology stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $162,271.59. Following the transaction, the chief financial officer now directly owns 35,333 shares of the company’s stock, valued at $2,410,063.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Microchip Technology news, Director Matthew W. Chapman sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total value of $68,210.00. Following the sale, the director now owns 37,682 shares in the company, valued at $2,570,289.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,379 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.21, for a total transaction of $162,271.59. Following the completion of the sale, the chief financial officer now owns 35,333 shares in the company, valued at approximately $2,410,063.93. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Institutional Trading of Microchip Technology
Hedge funds have recently added to or reduced their stakes in the stock. National Pension Service lifted its holdings in shares of Microchip Technology by 0.5% during the first quarter. National Pension Service now owns 965,371 shares of the semiconductor company’s stock worth $72,538,000 after purchasing an additional 4,777 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Microchip Technology by 58.0% during the first quarter. Teacher Retirement System of Texas now owns 229,212 shares of the semiconductor company’s stock worth $17,223,000 after purchasing an additional 84,148 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Microchip Technology by 28.6% during the first quarter. Fisher Asset Management LLC now owns 3,354 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 746 shares during the period. Pendal Group Ltd acquired a new position in shares of Microchip Technology during the first quarter worth $459,000. Finally, Buckley Wealth Management LLC acquired a new position in shares of Microchip Technology during the first quarter worth $246,000. Institutional investors and hedge funds own 89.81% of the company’s stock.
Microchip Technology Company Profile
(Get Rating)
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.
Recommended Stories
- Get a free copy of the StockNews.com research report on Microchip Technology (MCHP)
- Watch These 3 Economic Reports to Impact Interest Rate Hikes
- Here are 3 Stocks That Benefit From a Strong U.S. Dollar
- Is NVIDA Stock Getting Too Cheap to Ignore?
- Should Investors Look to Bag Shares of Kroger’s or Albertson’s?
- United Health Group Continues to Justify a Premium Valuation
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Microchip Technology, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Microchip Technology wasn’t on the list.
While Microchip Technology currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access members have access to premium reports, best-in-class portfolio monitoring tools, and our latest stock picks.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies, and more.
As Featured By:
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.
Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.