Shares of Microchip Technology Incorporated (NASDAQ: MCHP) got a new 52-week low on Monday at noon after Morgan Stanley lowered its share price target from $ 85.00 to $ 81.00. Morgan Stanley is currently overweight. Microchip Technology sold for less than $ 62.01 and last sold for $ 62.43, changing the volume of 16529 shares manually. Earlier the stock closed at $ 64.15.
Several other analysts have also recently commented on the MCHP. Goldman Sachs Group cut Microchip Technology from a “buy” rating to a “neutral” level and set a price target of $ 79.00 per share. in a research report on Sunday, March 27th. BMO Capital Markets lowered its price target for Microchip Technology from $ 95.00 to $ 85.00 on Tuesday, May 10, in a research report. Citigroup lowered its Microchip Technology price target from $ 78.00 to $ 72.00 on Tuesday, May 10, in a report. Truist Financial reduced their target price on Microchip Technology from $ 94.00 to $ 79.00 and set a “buy” rating for the shares on Friday, April 8, in a research report. Finally, the UBS Group raised its price target on Microchip Technology from $ 98.00 to $ 105.00 and gave the company a “buy” rating on Wednesday, March 9, in a research report. Five analysts rated it with a stock rating, fifteen rated it a buy rating, and one rated the company a strong buy rating. Based on MarketBeat data, the stock currently has a “Buy” consensus valuation and an average price target of $ 93.90.
In other news from Microchip Technology, CEO Eric Eric Bjornholt sold 2,326 shares of the company’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $ 66.66 for a total transaction of $ 155,051.16. Upon completion of the sale, the Chief Financial Officer directly owns 34,207 shares of the company, valued at $ 2,280,238.62. The transaction was disclosed in a legal dossier of the Securities and Exchange Commission, which is available at this link. Director Karlton D. Johnson also sold 594 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $ 67.35 for a total transaction of $ 40,005.90. Disclosure of this sale can be found here. In the last quarter, insiders sold 9,564 shares of the company, valued at $ 637,217. 2.03% of the shares are held internally.
Institutional investors and hedge funds have recently increased or decreased their holdings in the company. JW Cole Advisors Inc. acquired a new stake in Microchip Technology for $ 55,000 in the first quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Microchip Technology by 28.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 945,812 shares of the $ 71,069,000 semiconductor company, after buying 211,679 more shares during the last quarter. Neuberger Berman Group LLC increased its position in Microchip Technology by 39.1% in the first quarter. Neuberger Berman Group LLC has 24,985 shares of the semiconductor company’s shares now valued at $ 1,886,000 after buying 7,022 more shares in the last quarter. EP Wealth Advisors LLC’s stake in Microchip Technology rose 17.5% in the first quarter. EP Wealth Advisors LLC now owns 7,328 shares of the semiconductor company, valued at $ 551,000, after buying 1,092 more shares during the period. Finally, Toroso Investments LLC’s stake in Microchip Technology rose 14.5% in the first quarter. Toroso Investments LLC has 13,231 shares of the semiconductor company, now valued at $ 994,000, after buying 1,680 more shares in the period. 89.36% of the shares are currently owned by institutional investors and hedge funds.
The company has a market capitalization of $ 34.36 billion, a P / E ratio of $ 28.32, a price-to-earnings-growth ratio of $ 1.55 billion and a beta of $ 1.55. The company has a fast ratio of 1.14, a current ratio of 1.75 and a debt ratio of 1.30. The stock has an average floating price of 50 days for $ 67.97 and an average price of two hundred days for $ 74.68.
Microchip Technology (NASDAQ: MCHP) got its quarterly earnings data released for the last time on Monday, May 9th. The semiconductor company earned $ 1.26 per share in the quarter, exceeding the $ 1.17 consensus estimate by $ 0.09. Microchip Technology had a net margin of 18.85% and a profitability of 41.89%. The business had revenue of $ 1.84 trillion during the quarter, compared to analysts ’forecast of $ 1.820 billion. In the same quarter last year, the business earned $ 0.82 per share. Microchip Technology’s revenue rose 25.6% from the same quarter last year. Value analysts predict that Microchip Technology Incorporated will release 5.14 EPS for this year.
The company recently announced a quarterly dividend, which was paid on Friday, June 3rd. On Friday, May 20, they issued a $ 0.276 dividend to investors. This is a boost for Microchip Technology’s previous quarter’s $ 0.25 dividend. This represents a dividend of $ 1.10 on a yearly basis and a dividend yield of $ 1.78%. The undivided date was Thursday, May 19th. Microchip Technology’s Dividend Payment Ratio (DPR) currently stands at 48.57%.
Microchip Technology Company Profile (NASDAQ: MCHP)
Microchip Technology Incorporated develops, manufactures and sells semiconductor products for various control applications embedded in the Americas, Europe and Asia. The company offers 8-bit, 16-bit and 32-bit microcontrollers for general purpose; Markets for 32-bit embedded microprocessors; and specialized microcontrollers for the automotive, industrial, computer, communications, lighting, power supply, engine control, human-machine interface, security, cable connectivity, and wireless connectivity applications.
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