Shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) have earned an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.73.
Several brokerages have recently issued reports on MCHP. Mizuho lifted their price objective on Microchip Technology from $72.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Bank of America decreased their target price on Microchip Technology from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Stifel Nicolaus raised Microchip Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $75.00 in a research report on Tuesday, June 28th. StockNews.com raised Microchip Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. Finally, Cowen lifted their target price on Microchip Technology from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd.
Microchip Technology Award Performance
NASDAQ MCHP opened at $65.96 on Friday. Microchip Technology has a fifty-two week low of $54.33 and a fifty-two week high of $90.00. The stock’s 50-day moving average is $64.89, and its two-hundred-day moving average is $67.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.78, and a quick ratio of 1.17. The firm has a market cap of $36.44 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 0.87 and a beta of 1.62.
Microchip Technology (NASDAQ:MCHP – Get Rating ) last issued its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.10. Microchip Technology had a return on equity of 44.90% and a net margin of 21.34%. During the same period a year ago, the company earned $0.88 EPS. On average, analysts anticipate that Microchip Technology will post 5.38 earnings per share for the current fiscal year.
Microchip technology raises the dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be paid a $0.301 dividend. The ex-dividend date is Thursday, August 18th. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.83%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.28. Microchip Technology’s payout ratio is 44.12%.
In other news, Director Matthew W. Chapman sold 1,000 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 $68,210.00. Following the completion of the transaction, the director now owns 37,682 shares in the company, valued at $2,570,289.22. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is accessible through this link. In related news, CFO James Eric Bjornholt sold 2,379 shares of the business’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 $162,271.59. Following the completion of the transaction, the chief financial officer now owns 35,333 shares in the company, valued at approximately $2,410,063.93. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is accessible through the SEC’s website. Also, Director Matthew W. Chapman sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $68.21, for a total transaction of $68,210.00. Following the completion of the transaction, the director now owns 37,682 shares of the company’s stock, valued at approximately $2,570,289.22. Disclosure for this sale can be found here. 2.00% of shares are currently owned by corporate insiders.
Institutional inflows and outflows
Several institutional investors have recently bought and sold shares of MCHP. Dodge & Cox boosted its position in shares of Microchip Technology by 87.3% during the 4th quarter. Dodge & Cox now owns 29,539,169 shares of the semiconductor company’s stock valued at $2,571,680,000 after purchasing an additional 13,768,272 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Microchip Technology by 107.9% during the fourth quarter. Geode Capital Management LLC now owns 10,352,013 shares of the semiconductor company’s stock valued at $898,949,000 after buying an additional 5,373,594 shares during the last quarter. Norges Bank bought a new stake in shares of Microchip Technology during the 4th quarter valued at $462,517,000. Principal Financial Group Inc. raised its position in shares of Microchip Technology by 95.7% during the fourth quarter. Principal Financial Group Inc. now owns 10,618,059 shares of the semiconductor company’s stock valued at $934,445,000 after buying an additional 5,193,267 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Microchip Technology during the first quarter valued at $309,618,000. Institutional investors own 89.36% of the company’s shares.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures and sells intelligent, connected and secure integrated control solutions in the Americas, Europe and Asia. The company offers 8-bit, 16-bit, and 32-bit general-purpose microcontrollers; 32-bit embedded microprocessor markets; and specialized microcontrollers for automotive, industrial, computer, communications, lighting, power supplies, motor control, human machine interface, security, wired and wireless applications.
This instant news alert was created from scientific narrative technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Microchip Technology, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s highest-rated and best-rated research analysts and the stocks they recommend to their clients every day. MarketBeat has identified 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 analysts believe these five stocks are best buys.
View Five Shares Here