Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $92.37 and last traded at $92.4530, with a volume of 4305514 shares. The stock had previously closed at $90.17.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Microchip Technology from $60.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, February 6th. Stifel Nicolaus set a $90.00 price target on shares of Microchip Technology in a report on Friday, February 6th. Morgan Stanley increased their price target on shares of Microchip Technology from $68.00 to $69.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Microchip Technology from $85.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Finally, Wells Fargo & Company increased their price target on shares of Microchip Technology from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, February 6th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.
Check Out Our Latest Stock Analysis on Microchip Technology
Microchip Technology Stock Up 3.0%
The company has a market cap of $50.28 billion, a PE ratio of -320.38, a P/E/G ratio of 1.16 and a beta of 1.49. The business has a 50-day simple moving average of $71.50 and a 200-day simple moving average of $68.22. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.82.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. Microchip Technology had a negative net margin of 1.57% and a positive return on equity of 7.16%. The company's revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Microchip Technology has set its Q4 2026 guidance at 0.480-0.520 EPS. Equities research analysts anticipate that Microchip Technology Incorporated will post 1.16 EPS for the current year.
Microchip Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, February 23rd. Microchip Technology's dividend payout ratio (DPR) is presently -627.59%.
Insider Transactions at Microchip Technology
In other Microchip Technology news, CEO Steve Sanghi sold 416,581 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $88.53, for a total transaction of $36,879,915.93. Following the transaction, the chief executive officer directly owned 9,495,805 shares of the company's stock, valued at $840,663,616.65. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Microchip Technology
Several hedge funds and other institutional investors have recently made changes to their positions in MCHP. Norges Bank purchased a new position in shares of Microchip Technology in the fourth quarter valued at approximately $664,564,000. Barclays PLC lifted its position in shares of Microchip Technology by 66.5% in the fourth quarter. Barclays PLC now owns 13,996,883 shares of the semiconductor company's stock valued at $891,881,000 after acquiring an additional 5,590,210 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Microchip Technology by 25.7% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,048,057 shares of the semiconductor company's stock valued at $709,506,000 after acquiring an additional 2,257,932 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Microchip Technology by 77.0% in the third quarter. Holocene Advisors LP now owns 4,709,538 shares of the semiconductor company's stock valued at $302,447,000 after acquiring an additional 2,049,249 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in shares of Microchip Technology by 41.0% in the second quarter. Rafferty Asset Management LLC now owns 6,203,762 shares of the semiconductor company's stock valued at $436,559,000 after acquiring an additional 1,803,945 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.
About Microchip Technology
(
Get Free Report)
Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.
Microchip's products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.
Further Reading
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