Microchip technology (NASDAQ: MCHP) hit an annual low as analysts fell

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.


If you want to learn the basics of the future or are a seasoned veterinarian who wants to improve your trading skills, our Technical Analysis Guide has everything you need to succeed in today’s future markets!

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.

Notable articles

This instant news alert was created by MarketBeat’s science-fiction technology and financial data to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team before publication. Please send any questions or comments about this story [email protected]

Need to invest $ 1,000 in Microchip Technology right now?

Before you consider Microchip Technology, you may want to listen to this.

MarketBeat values ​​Wall Street analysts with the highest rated and highest performing research analysts and stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks that top analysts have now quietly whispered to their customers to buy quietly before they reach the broad market … and Microchip Technology was not on the list.

Although Microchip Technology currently has a “Buy” rating among analysts, the best analysts believe that these five shares are a better buy.

See 5 shares here


Leave a Comment