Microchip Technology Incorporated (NASDAQ:MCHP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Microchip Technology Incorporated (NASDAQ:MCHPGet Rating) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $84.10.

MCHP has been the topic of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Microchip Technology from $92.00 to $82.00 in a research report on Tuesday, October 25th. Wells Fargo & Company dropped their target price on shares of Microchip Technology from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. Morgan Stanley dropped their target price on shares of Microchip Technology from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. Stifel Nicolaus boosted their target price on shares of Microchip Technology from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Finally, UBS Group dropped their target price on shares of Microchip Technology from $100.00 to $90.00 in a research report on Friday, November 4th.

Microchip Technology Stock Down 0.8 %

Shares of Microchip Technology stock opened at $75.72 on Wednesday. The firm’s 50 day moving average price is $73.75 and its 200-day moving average price is $68.41. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 1.03. Microchip Technology has a 52-week low of $54.33 and a 52-week high of $80.50. The company has a market cap of $41.65 billion, a P/E ratio of 23.16, a PEG ratio of 0.80 and a beta of 1.59.

Microchip Technology (NASDAQ:MCHPGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Microchip Technology had a net margin of 24.14% and a return on equity of 47.90%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. On average, sell-side analysts predict that Microchip Technology will post 5.66 EPS for the current fiscal year.

Microchip Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd were paid a $0.328 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.30. This represents a $1.31 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, November 21st. Microchip Technology’s payout ratio is currently 40.06%.

Insider Activity at Microchip Technology

In related news, Director Karlton D. Johnson sold 927 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $64.54, for a total value of $59,828.58. Following the completion of the transaction, the director now directly owns 1,369 shares in the company, valued at approximately $88,355.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Microchip Technology

Large investors have recently added to or reduced their stakes in the stock. Householder Group Estate & Retirement Specialist LLC acquired a new position in Microchip Technology during the third quarter worth $25,000. MV Capital Management Inc. raised its position in Microchip Technology by 157.1% during the third quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 264 shares during the period. Quent Capital LLC acquired a new position in Microchip Technology during the fourth quarter worth $26,000. Almanack Investment Partners LLC. acquired a new position in Microchip Technology during the third quarter worth $29,000. Finally, Glassman Wealth Services raised its position in Microchip Technology by 54.5% during the second quarter. Glassman Wealth Services now owns 516 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 182 shares during the period. 89.85% of the stock is currently owned by institutional investors and hedge funds.

About Microchip Technology

(Get Rating)

Microchip Technology Incorporated develops, manufactures, and sells 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 microcontrollers; 32-bit embedded microprocessors markets; 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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Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

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