Microchip Technology (NASDAQ:MCHP - Free Report) had its price objective cut by Stifel Nicolaus from $80.00 to $60.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.
Several other analysts have also weighed in on MCHP. B. Riley reissued a "buy" rating and issued a $75.00 target price (down previously from $85.00) on shares of Microchip Technology in a report on Friday, February 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 price target on shares of Microchip Technology in a research report on Tuesday, March 4th. Evercore ISI raised their price target on Microchip Technology from $65.00 to $71.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. TD Cowen lifted their price objective on Microchip Technology from $50.00 to $60.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. Finally, Citigroup reduced their target price on shares of Microchip Technology from $65.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.32.
Get Our Latest Stock Analysis on Microchip Technology
Microchip Technology Stock Performance
MCHP traded up $0.68 during trading on Thursday, reaching $40.11. The company's stock had a trading volume of 4,663,212 shares, compared to its average volume of 8,103,544. The company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 71.43 and a beta of 1.51. The company's fifty day moving average price is $50.43 and its 200-day moving average price is $59.22. Microchip Technology has a 52-week low of $34.13 and a 52-week high of $100.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.25.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. On average, equities analysts forecast that Microchip Technology will post 1.03 earnings per share for the current fiscal year.
Microchip Technology Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Monday, February 24th. Microchip Technology's payout ratio is 325.00%.
Insider Buying and Selling
In related news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at $2,025,599.36. The trade was a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Microchip Technology
A number of hedge funds and other institutional investors have recently modified their holdings of MCHP. Mainstream Capital Management LLC acquired a new position in shares of Microchip Technology in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. increased its stake in shares of Microchip Technology by 309.5% in the fourth quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after buying an additional 359 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Microchip Technology in the fourth quarter valued at $29,000. Financial Life Planners acquired a new position in Microchip Technology during the 4th quarter worth $32,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Microchip Technology during the 4th quarter worth $34,000. 91.51% of the stock is owned by hedge funds and other institutional investors.
About Microchip Technology
(
Get Free Report)
Microchip Technology Incorporated engages in the development, manufacture, and sale of 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 mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.
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