Microchip Technology Incorporated [MCHP] Revenue clocked in at $5.70 billion, up 13.15% YTD: What’s Next?

Microchip Technology Incorporated [NASDAQ: MCHP] surged by $0.66 during the normal trading session on Thursday and reaching a high of $156.59 during the day while it closed the day at $156.27. The company report on August 27, 2021 that Microchip Technology to Host Analyst and Investor Day on November 8.

(NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, announced that the Company will host an Analyst and Investor Day on Monday November 8, 2021, commencing at 1:00 p.m. (Eastern Standard Time) and concluding at 5:00 p.m. (Eastern Standard Time). The event will include information on Microchip’s long-term growth and business model targets, organic growth strategy, manufacturing/capacity strategy, capital allocation/capital return strategy, Company culture and corporate responsibility. Presenters will include Ganesh Moorthy, CEO, Steve Sanghi, Executive Chair, Eric Bjornholt, Chief Financial Officer, and other members of management.

Microchip currently plans to hold the event in New York city in person and in-person attendance will be by invitation only. The location for the event will be announced at a future date. We will switch to a virtual event if Covid-19 pandemic concerns support doing so. The live presentation of this event will be available via a webcast on the Investors page of Microchip’s website at www.microchip.com. A replay of the webcast will be available for a period of two weeks, concluding on November 22, 2021. A copy of the presentation materials will be posted to the Investors page of www.microchip.com immediately prior to the start of the event.

Microchip Technology Incorporated stock has also gained 0.21% of its value over the past 7 days. However, MCHP stock has inclined by 0.57% in the 3 months of the year. Over the past six months meanwhile, it has gained 7.45% and gained 13.15% year-on date.

The market cap for MCHP stock reached $41.90 billion, with 273.80 million shares outstanding and 268.47 million shares in the current float. Compared to the average trading volume of 1.87M shares, MCHP reached a trading volume of 1822786 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $180.17 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.

Morgan Stanley have made an estimate for Microchip Technology Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 02, 2021. While these analysts kept the previous recommendation, Mizuho dropped their target price from $165 to $160. The new note on the price target was released on July 15, 2021, representing the official price target for Microchip Technology Incorporated stock.

The Average True Range (ATR) for Microchip Technology Incorporated is set at 3.70, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 7.35. The Price to Book ratio for the last quarter was 7.75, with the Price to Cash per share for the same quarter was set at 1.04. Price to Free Cash Flow for MCHP in the course of the last twelve months was 28.62 with Quick ratio for the last quarter at 1.40.

MCHP stock trade performance evaluation

Microchip Technology Incorporated [MCHP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.21. With this latest performance, MCHP shares gained by 5.94% in over the last four-week period, additionally plugging by 7.45% over the last 6 months – not to mention a rise of 36.25% 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 62.52, with the RSI for the last a single of trading hit 64.29, and the three-weeks RSI is set at 59.81 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 146.49, while it was recorded at 157.53 for the last single week of trading, and 147.52 for the last 200 days.

Microchip Technology Incorporated [MCHP]: An insightful look at the core 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 1.40 and a Current Ratio set at 2.00.

Earnings per share (EPS) analysis for Microchip Technology Incorporated [MCHP] stock

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 16.20%.

Microchip Technology Incorporated [MCHP]: Insider Ownership positions

There are presently around $39,087 million, or 91.70% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 30,922,920, which is approximately 1.264% of the company’s market cap and around 2.02% of the total institutional ownership; BLACKROCK INC., holding 19,640,465 shares of the stock with an approximate value of $3.07 billion in MCHP stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $2.8 billion in MCHP stock with ownership of nearly 0.046% 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 462 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 14,081,003 shares. Additionally, 380 investors decreased positions by around 12,795,491 shares, while 184 investors held positions by with 223,245,490 shares. The mentioned changes placed institutional holdings at 250,121,984 shares, according to the latest SEC report filing. MCHP stock had 105 new institutional investments in for a total of 2,378,229 shares, while 66 institutional investors sold positions of 1,667,482 shares during the same period.

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