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

Shares of Microchip Technology Incorporated (NASDAQ:MCHP) have earned an average rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $99.95.

Several research analysts recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Microchip Technology in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Microchip Technology from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America lowered shares of Microchip Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $110.00 to $90.00 in a report on Friday, August 2nd. B. Riley reduced their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Citigroup decreased their target price on Microchip Technology from $104.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $81.50, for a total value of $175,551.00. Following the completion of the sale, the chief financial officer now owns 33,257 shares in the company, valued at $2,710,445.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.07% of the company’s stock.

Institutional Investors Weigh In On Microchip Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Gilbert & Cook Inc. increased its holdings in shares of Microchip Technology by 8.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,354 shares of the semiconductor company’s stock valued at $483,000 after purchasing an additional 421 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Microchip Technology in the 4th quarter valued at about $241,000. Navellier & Associates Inc. acquired a new position in Microchip Technology in the 4th quarter valued at about $214,000. Financial Advocates Investment Management raised its holdings in Microchip Technology by 84.2% in the 4th quarter. Financial Advocates Investment Management now owns 6,644 shares of the semiconductor company’s stock valued at $599,000 after acquiring an additional 3,037 shares during the period. Finally, Level Four Advisory Services LLC lifted its position in Microchip Technology by 6.9% during the fourth quarter. Level Four Advisory Services LLC now owns 5,320 shares of the semiconductor company’s stock worth $480,000 after acquiring an additional 344 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

Microchip Technology Stock Performance

Shares of Microchip Technology stock opened at $77.01 on Monday. The firm has a fifty day moving average of $81.15 and a two-hundred day moving average of $87.73. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94. The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of 22.19 and a beta of 1.53. Microchip Technology has a 52 week low of $68.75 and a 52 week high of $100.57.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm’s revenue was down 45.8% on a year-over-year basis. As a group, equities research analysts predict that Microchip Technology will post 1.74 EPS for the current year.

Microchip Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.454 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.36%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, August 22nd. Microchip Technology’s dividend payout ratio (DPR) is currently 52.16%.

Microchip Technology Company Profile

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.