Microchip Technology Incorporated [MCHP] Stock trading around $74.09 per share: What’s Next?

Microchip Technology Incorporated [NASDAQ: MCHP] stock went on a downward path that fall over -0.26% on Tuesday, amounting to a one-week price increase of more than 8.96%. The company report on August 8, 2022 that Microchip Technology to Present at the KeyBanc 23rd Annual Vail Global Tech Leadership Forum.


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Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, announced today that the Company will present at the KeyBanc 23rd Annual Vail Global Tech Leadership Forum on Tuesday, August 9 at 9:00 a.m. (Mountain Time). Presenting for the Company will be Mr. Eric Bjornholt, Senior Vice President and CFO, and Mr. Sajid Daudi, Head of Investor Relations. A live webcast of the presentation will be made available by KeyBanc, and can be accessed on the Microchip website at www.microchip.com.

Any forward looking statements made during the presentation are qualified in their entirety by the discussion of risks set forth in the Company’s Securities and Exchange Commission filings. Copies of SEC filings can be obtained for free at the SEC’s website (www.sec.gov) or from commercial document retrieval services.

Over the last 12 months, MCHP stock dropped by -1.48%. The one-year Microchip Technology Incorporated stock forecast points to a potential upside of 13.48. The average equity rating for MCHP stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.63 billion, with 553.80 million shares outstanding and 541.39 million shares in the current float. Compared to the average trading volume of 4.67M shares, MCHP stock reached a trading volume of 4164324 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 $85.63 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 2.10. 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 2.24, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 5.49. The Price to Book ratio for the last quarter was 6.87, with the Price to Cash per share for the same quarter was set at 0.71. Price to Free Cash Flow for MCHP in the course of the last twelve months was 18.84 with Quick ratio for the last quarter at 1.20.

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 8.96. With this latest performance, MCHP shares gained by 19.98% in over the last four-week period, additionally plugging by 4.07% over the last 6 months – not to mention a drop of -1.48% 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 66.94, with the RSI for the last a single of trading hit 69.41, and the three-weeks RSI is set at 63.57 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 64.22, while it was recorded at 72.83 for the last single week of trading, and 72.88 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 +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 1.20 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 9.20%.

Microchip Technology Incorporated [MCHP] Insider Position Details

There are presently around $37,202 million, or 95.00% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 65,106,982, which is approximately 1.057% of the company’s market cap and around 2.01% of the total institutional ownership; BLACKROCK INC., holding 44,228,405 shares of the stock with an approximate value of $3.28 billion in MCHP stocks shares; and DODGE & COX, currently with $2.39 billion in MCHP stock with ownership of nearly 1.74% 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 445 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 31,671,744 shares. Additionally, 485 investors decreased positions by around 26,135,178 shares, while 166 investors held positions by with 444,307,432 shares. The mentioned changes placed institutional holdings at 502,114,354 shares, according to the latest SEC report filing. MCHP stock had 80 new institutional investments in for a total of 7,291,995 shares, while 100 institutional investors sold positions of 1,931,869 shares during the same period.

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