1 week Ago By ABMN Staff
Microchip Technology Incorporated ( NASDAQ:MCHP – Get Free Report ) was down 4.8% on Friday after Citigroup lowered their price target on the stock from $65.00 to $50.
00. Citigroup currently has a buy rating on the stock. Microchip Technology traded as low as $35.
47 and last traded at $36.94. Approximately 3,740,013 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 7,905,428 shares.
The stock had previously closed at $38.81. MCHP has been the subject of several other research reports.
Morgan Stanley lowered their price objective on Microchip Technology from $71.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th.
Evercore ISI increased their target price on Microchip Technology from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th.
Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Microchip Technology in a report on Tuesday, March 4th. Bank of America lowered Microchip Technology from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $80.
00 to $65.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.
00 to $63.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock.
According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.68. Read Our Latest Stock Analysis on MCHP Insider Activity Hedge Funds Weigh In On Microchip Technology A number of large investors have recently bought and sold shares of the business.
Godsey & Gibb Inc. raised its stake in shares of Microchip Technology by 6.8% during the first quarter.
Godsey & Gibb Inc. now owns 274,906 shares of the semiconductor company’s stock valued at $13,308,000 after acquiring an additional 17,572 shares in the last quarter. Reinhart Partners LLC.
boosted its stake in Microchip Technology by 35.8% in the first quarter. Reinhart Partners LLC.
now owns 135,822 shares of the semiconductor company’s stock valued at $6,575,000 after acquiring an additional 35,797 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Microchip Technology by 21.6% during the 1st quarter.
SeaCrest Wealth Management LLC now owns 4,435 shares of the semiconductor company’s stock worth $215,000 after buying an additional 788 shares during the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Microchip Technology by 3.
8% during the first quarter. E. Ohman J or Asset Management AB now owns 453,133 shares of the semiconductor company’s stock worth $21,936,000 after acquiring an additional 16,533 shares during the last quarter.
Finally, Vest Financial LLC increased its stake in Microchip Technology by 66.3% during the 1st quarter. Vest Financial LLC now owns 20,090 shares of the semiconductor company’s stock valued at $973,000 after purchasing an additional 8,009 shares in the last quarter.
Hedge funds and other institutional investors own 91.51% of the company’s stock. Microchip Technology Price Performance The company has a market cap of $20.
82 billion, a PE ratio of 69.13 and a beta of 1.51.
The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.23 and a current ratio of 2.
25. The stock has a 50 day moving average of $52.13 and a 200-day moving average of $61.
03. Microchip Technology ( NASDAQ:MCHP – Get Free Report ) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.
13 earnings per share (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%.
Equities analysts predict that Microchip Technology Incorporated will post 1.03 earnings per share for the current year. Microchip Technology Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th.
Shareholders of record on Monday, February 24th were issued a $0.455 dividend. This represents a $1.
82 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Monday, February 24th.
Microchip Technology’s payout ratio is currently 325.00%. 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. Read More Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter .
.
