Microchip Technology Incorporated [MCHP] is 5.85% higher this YTD. Is it still time to buy?

Microchip Technology Incorporated [NASDAQ: MCHP] price surged by 1.51 percent to reach at $2.17. The company report on June 23, 2021 that MPLAB® Cloud Tools Ecosystem Brings Secure, Platform-independent Development Workflow to PIC® and AVR® Microcontrollers.

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New platform combines configuration and collaboration tools with knowledge-based search to modernize the embedded development workflow.

Microcontroller (MCU) design is now easier than ever with the new MPLAB cloud tools ecosystem available for PIC and AVR devices from Microchip Technology Inc. (Nasdaq: MCHP). The free, all-in-one cloud platform combines easy, integrated search and discovery of example code, graphical configuration of projects and code debugging in a collaborative environment. This environment enables enterprise-scale rapid development while simplifying software design for users at all skill levels with an intuitive browser-based interface and cloud connectivity.

A sum of 1396655 shares traded at recent session while its average daily volume was at 1.71M shares. Microchip Technology Incorporated shares reached a high of $146.27 and dropped to a low of $143.37 until finishing in the latest session at $146.19.

The one-year MCHP stock forecast points to a potential upside of 17.02. The average equity rating for MCHP stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Microchip Technology Incorporated [MCHP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MCHP shares is $176.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MCHP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Longbow have made an estimate for Microchip Technology Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 23, 2021. The new note on the price target was released on February 03, 2021, representing the official price target for Microchip Technology Incorporated stock. Previously, the target price had yet another raise from $102 to $125, while Cowen kept a Market Perform rating on MCHP stock. On November 06, 2020, analysts increased their price target for MCHP shares from 130 to 145.

The Average True Range (ATR) for Microchip Technology Incorporated is set at 3.69, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 7.20. The Price to Book ratio for the last quarter was 7.43, with the Price to Cash per share for the same quarter was set at 1.05. Price to Free Cash Flow for MCHP in the course of the last twelve months was 27.27 with Quick ratio for the last quarter at 0.60.

MCHP Stock Performance Analysis:

Microchip Technology Incorporated [MCHP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.39. With this latest performance, MCHP shares dropped by -4.72% in over the last four-week period, additionally sinking by -0.82% over the last 6 months – not to mention a rise of 37.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MCHP stock in for the last two-week period is set at 45.84, with the RSI for the last a single of trading hit 46.40, and the three-weeks RSI is set at 46.39 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 149.26, while it was recorded at 144.17 for the last single week of trading, and 140.94 for the last 200 days.

Insight into Microchip Technology Incorporated Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Microchip Technology Incorporated [MCHP] shares currently have an operating margin of +18.38 and a Gross Margin at +44.99. Microchip Technology Incorporated’s Net Margin is presently recorded at +6.42.

Return on Total Capital for MCHP is now 6.75, given the latest momentum, and Return on Invested Capital for the company is 2.53. Return on Equity for this stock inclined to 6.40, with Return on Assets sitting at 2.06. When it comes to the capital structure of this company, Microchip Technology Incorporated [MCHP] has a Total Debt to Total Equity ratio set at 169.93. Additionally, MCHP Total Debt to Total Capital is recorded at 62.95, with Total Debt to Total Assets ending up at 55.04. Long-Term Debt to Equity for the company is recorded at 144.40, with the Long-Term Debt to Total Capital now at 53.49.

Reflecting on the efficiency of the workforce at the company, Microchip Technology Incorporated [MCHP] managed to generate an average of $17,918 per employee. Receivables Turnover for the company is 5.63 with a Total Asset Turnover recorded at a value of 0.32.Microchip Technology Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.90.

MCHP Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MCHP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Microchip Technology Incorporated go to 11.40%.

Microchip Technology Incorporated [MCHP] Insider Position Details

There are presently around $36,532 million, or 92.60% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 30,536,822, which is approximately 2.786% of the company’s market cap and around 1.95% of the total institutional ownership; BLACKROCK INC., holding 19,804,309 shares of the stock with an approximate value of $2.9 billion in MCHP stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.62 billion in MCHP stock with ownership of nearly 37.987% of the company’s market capitalization.

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Positions in Microchip Technology Incorporated stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 426 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 17,661,262 shares. Additionally, 430 investors decreased positions by around 13,301,671 shares, while 154 investors held positions by with 218,929,520 shares. The mentioned changes placed institutional holdings at 249,892,453 shares, according to the latest SEC report filing. MCHP stock had 104 new institutional investments in for a total of 1,596,099 shares, while 85 institutional investors sold positions of 1,571,533 shares during the same period.

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