Shares of Microchip Technology Inc. (NASDAQ:MCHP) have received an average rating of “Buy” from the twenty-two research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $105.56.
A number of equities analysts have recently weighed in on the stock. BidaskClub cut shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. ValuEngine cut shares of Microchip Technology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. Morgan Stanley upped their price target on shares of Microchip Technology from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 19th. Needham & Company LLC lowered their price target on shares of Microchip Technology to $100.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, October 5th.
In other Microchip Technology news, VP Stephen V. Drehobl sold 4,271 shares of the stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total value of $307,768.26. Following the completion of the sale, the vice president now owns 17,173 shares of the company’s stock, valued at $1,237,486.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Eric Bjornholt sold 1,866 shares of the stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $72.06, for a total transaction of $134,463.96. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.
MCHP stock opened at $77.13 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $17.94 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.94 and a beta of 1.16. Microchip Technology has a 12 month low of $60.70 and a 12 month high of $104.20.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.03. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Microchip Technology had a net margin of 0.59% and a return on equity of 35.00%. Microchip Technology’s revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, equities research analysts forecast that Microchip Technology will post 5.98 earnings per share for the current fiscal year.
About Microchip Technology
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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