1 week Ago By Defense World Staff
Microchip Technology Incorporated (NASDAQ:MCHP – Get Free Report)’s stock price dropped 4.8% during trading 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 changed hands 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.Several other research firms have also recently issued reports on MCHP.
Raymond James reiterated a “strong-buy” rating and issued a $60.00 target price (down from $95.00) on shares of Microchip Technology in a research note on Friday, February 7th.
Piper Sandler reissued an “overweight” rating and set a $65.00 target price (down from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th.
Needham & Company LLC lifted their price target on Microchip Technology from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th.
B. Riley reiterated a “buy” rating and set a $75.00 price target (down previously from $85.
00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, StockNews.com cut Microchip Technology from a “hold” rating to a “sell” rating in a research report on Monday, February 10th.
Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.
68.Get Our Latest Report on MCHPInsider Transactions at Microchip TechnologyIn other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $60.
88, for a total transaction of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at $2,025,599.
36. The trade was a 10.07 % decrease in their position.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.
Institutional Inflows and OutflowsLarge investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its stake in Microchip Technology by 0.
5% during the fourth quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company’s stock worth $2,254,000 after purchasing an additional 209 shares during the period.
Northwest Bank & Trust Co increased its stake in Microchip Technology by 3.0% during the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company’s stock worth $424,000 after buying an additional 217 shares during the period.
Lebenthal Global Advisors LLC lifted its holdings in Microchip Technology by 7.3% during the 4th quarter. Lebenthal Global Advisors LLC now owns 3,894 shares of the semiconductor company’s stock worth $223,000 after buying an additional 266 shares in the last quarter.
State of Wyoming boosted its position in Microchip Technology by 27.3% in the 4th quarter. State of Wyoming now owns 1,300 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 279 shares during the period.
Finally, CreativeOne Wealth LLC grew its stake in shares of Microchip Technology by 1.0% in the fourth quarter. CreativeOne Wealth LLC now owns 28,842 shares of the semiconductor company’s stock worth $1,654,000 after acquiring an additional 283 shares in the last quarter.
Institutional investors and hedge funds own 91.51% of the company’s stock. Microchip Technology Stock Down 0.
3 %The firm has a market cap of $20.82 billion, a PE ratio of 69.13 and a beta of 1.
51. The company has a quick ratio of 1.23, a current ratio of 2.
25 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average price of $52.
13 and a two-hundred day moving average price of $61.03. Microchip Technology (NASDAQ:MCHP – Get Free Report) last posted its quarterly 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%. On average, equities research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current year.
Microchip Technology Dividend AnnouncementThe company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were given a dividend of $0.455 per share.
The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 4.
70%. Microchip Technology’s dividend payout ratio (DPR) is currently 325.00%.
Microchip Technology Company Profile (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 MoreFive stocks we like better than Microchip TechnologyDividend Capture Strategy: What You Need to KnowRobinhood Strategies Could Be a Game-Changer for Young InvestorsThe 3 Best Fintech Stocks to Buy NowAre These 3 Retail Stocks Oversold or Really in Trouble?Uptrend Stocks Explained: Learn How to Trade Using UptrendsIONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are Ahead.
