Microchip Technology Incorporated [MCHP] Stock trading around $64.52 per share: What’s Next?

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Microchip Technology Incorporated [NASDAQ: MCHP] gained 4.49% or 2.77 points to close at $64.52 with a heavy trading volume of 4684786 shares. 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.

It opened the trading session at $62.73, the shares rose to $64.91 and dropped to $62.7101, the range by which the price of stock traded the whole day. The daily chart for MCHP points out that the company has recorded -23.45% loss over the past six months. However, it is still -18.76% lower than its most recent low trading price.

If we look at the average trading volume of 5.09M shares, MCHP reached to a volume of 4684786 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $81.79 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 2.37, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 5.12. The Price to Book ratio for the last quarter was 6.08, with the Price to Cash per share for the same quarter was set at 0.59. Price to Free Cash Flow for MCHP in the course of the last twelve months was 17.75 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for MCHP stock

Microchip Technology Incorporated [MCHP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.99. With this latest performance, MCHP shares gained by 12.94% in over the last four-week period, additionally sinking by -23.45% over the last 6 months – not to mention a drop of -2.23% 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 60.15, with the RSI for the last a single of trading hit 70.18, and the three-weeks RSI is set at 54.57 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 63.78, while it was recorded at 61.78 for the last single week of trading, and 73.32 for the last 200 days.

Microchip Technology Incorporated [MCHP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Microchip Technology Incorporated [MCHP] shares currently have an operating margin of +27.55 and a Gross Margin at +51.72. Microchip Technology Incorporated’s Net Margin is presently recorded at +18.85.

Return on Equity for this stock inclined to 22.89, with Return on Assets sitting at 7.87.

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.

Microchip Technology Incorporated [MCHP]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Microchip Technology Incorporated [MCHP]

There are presently around $30,745 million, or 94.80% 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 $2.78 billion in MCHP stocks shares; and DODGE & COX, currently with $1.96 billion in MCHP stock with ownership of nearly 7.238% of the company’s market capitalization.

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 481 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 33,504,329 shares. Additionally, 476 investors decreased positions by around 33,805,812 shares, while 170 investors held positions by with 430,584,405 shares. The mentioned changes placed institutional holdings at 497,894,546 shares, according to the latest SEC report filing. MCHP stock had 84 new institutional investments in for a total of 6,822,549 shares, while 118 institutional investors sold positions of 3,683,549 shares during the same period.

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