For Microchip Technology Incorporated [MCHP], Analyst sees a rise to $75. What next?

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Microchip Technology Incorporated [NASDAQ: MCHP] stock went on an upward path that rose over 0.56% on Tuesday, amounting to a one-week price increase of more than 5.45%. The company report on June 30, 2022 that New maXTouch® Knob on Display™ (KoD™) Touch Controller Family Disrupts Traditional Touchscreen Designs.


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maXTouch KoD controller enables innovative Human Machine Interface (HMI) solutions by combining mechanical knobs with existing multi-touch displays.

Many automotive and industrial touch HMI designers are looking to merge the benefits of a mechanical rotary encoder input with the flexibility of modern multi-touch displays. Microchip Technology Inc. (Nasdaq: MCHP) today announces the maXTouch® Knob on Display™ (KoD™) controller as the first automotive-grade touchscreen controller family to natively support the detection and reporting of capacitive rotary encoders, as well as mechanical switches on top of a touch panel. Unlike traditional mechanical rotary encoders, this new technology enables the mounting of the knob directly onto the display without an opening in the panel or any customization of the touch pattern, increasing design flexibility and system cost savings.

Over the last 12 months, MCHP stock dropped by -19.01%. The one-year Microchip Technology Incorporated stock forecast points to a potential upside of 29.2. The average equity rating for MCHP stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $32.44 billion, with 555.60 million shares outstanding and 543.39 million shares in the current float. Compared to the average trading volume of 5.18M shares, MCHP stock reached a trading volume of 3718620 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $83.62 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 2.20. 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.

Stifel have made an estimate for Microchip Technology Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2022. The new note on the price target was released on March 28, 2022, representing the official price target for Microchip Technology Incorporated stock. Previously, the target price had yet another drop from $85 to $80, while Wells Fargo kept a Equal Weight rating on MCHP stock. On February 04, 2022, analysts increased their price target for MCHP shares from 92 to 98.

The Average True Range (ATR) for Microchip Technology Incorporated is set at 2.34, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 4.76. The Price to Book ratio for the last quarter was 5.58, with the Price to Cash per share for the same quarter was set at 0.58. Price to Free Cash Flow for MCHP in the course of the last twelve months was 16.48 with Quick ratio for the last quarter at 1.10.

MCHP Stock Performance Analysis:

Microchip Technology Incorporated [MCHP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.45. With this latest performance, MCHP shares dropped by -11.15% in over the last four-week period, additionally sinking by -27.74% over the last 6 months – not to mention a drop of -19.01% 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 44.72, with the RSI for the last a single of trading hit 48.48, and the three-weeks RSI is set at 43.88 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 64.40, while it was recorded at 58.48 for the last single week of trading, and 73.77 for the last 200 days.

Insight into Microchip Technology Incorporated Fundamentals:

Microchip Technology Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.80.

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 23.70%.

Microchip Technology Incorporated [MCHP] Insider Position Details

There are presently around $29,317 million, or 94.70% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 64,426,179, which is approximately 1.085% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 44,943,215 shares of the stock with an approximate value of $2.65 billion in MCHP stocks shares; and DODGE & COX, currently with $1.86 billion in MCHP stock with ownership of nearly 7.238% of the company’s market capitalization.

479 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 33,580,389 shares. Additionally, 479 investors decreased positions by around 33,745,304 shares, while 174 investors held positions by with 430,676,334 shares. The mentioned changes placed institutional holdings at 498,002,027 shares, according to the latest SEC report filing. MCHP stock had 85 new institutional investments in for a total of 6,862,989 shares, while 122 institutional investors sold positions of 3,623,149 shares during the same period.

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