Stifel slashes price target on Microchip Technology Incorporated [MCHP] – find out why.

Microchip Technology Incorporated [NASDAQ: MCHP] closed the trading session at $63.16 on 09/13/22. The day’s price range saw the stock hit a low of $62.94, while the highest price level was $65.32. The company report on September 12, 2022 that Microchip Technology to Present at the Goldman Sachs 2022 Communacopia + Technology Conference.


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(NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, announced today that the Company will present at the Goldman Sachs 2022 Communacopia + Technology Conference on Wednesday, September 14 at 9:15 a.m. (Pacific Time). Presenting for the Company will be Mr. Steve Sanghi, Executive Chair, and Mr. Eric Bjornholt, Senior Vice President and CFO. A live webcast of the presentation will be made available by Goldman, 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.

The stocks have a year to date performance of -27.45 percent and weekly performance of -0.93 percent. The stock has been moved at -7.29 percent over the last six months. The stock has performed -14.31 percent around the most recent 30 days and changed 5.30 percent over the most recent 3-months.

If compared to the average trading volume of 4.63M shares, MCHP reached to a volume of 6503879 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 $86.14 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 2.34, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 4.80. The Price to Book ratio for the last quarter was 5.85, with the Price to Cash per share for the same quarter was set at 0.69. Price to Free Cash Flow for MCHP in the course of the last twelve months was 16.47 with Quick ratio for the last quarter at 1.20.

MCHP stock trade performance evaluation

Microchip Technology Incorporated [MCHP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.93. With this latest performance, MCHP shares dropped by -14.31% in over the last four-week period, additionally sinking by -7.29% over the last 6 months – not to mention a drop of -21.39% 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 39.88, with the RSI for the last a single of trading hit 35.65, and the three-weeks RSI is set at 43.05 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 66.36, while it was recorded at 65.66 for the last single week of trading, and 71.45 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 +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.

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 9.20%.

Microchip Technology Incorporated [MCHP]: Insider Ownership positions

There are presently around $31,735 million, or 95.40% 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 2.00% of the total institutional ownership; BLACKROCK INC., holding 44,228,405 shares of the stock with an approximate value of $2.79 billion in MCHP stocks shares; and DODGE & COX, currently with $2.04 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 446 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 31,769,498 shares. Additionally, 486 investors decreased positions by around 26,124,119 shares, while 166 investors held positions by with 444,555,122 shares. The mentioned changes placed institutional holdings at 502,448,739 shares, according to the latest SEC report filing. MCHP stock had 81 new institutional investments in for a total of 7,487,880 shares, while 101 institutional investors sold positions of 1,935,952 shares during the same period.

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