Stifel lifts Microchip Technology Incorporated [MCHP] price estimate. Who else is bullish?

Microchip Technology Incorporated [NASDAQ: MCHP] traded at a high on 11/07/22, posting a 2.62 gain after which it closed the day’ session at $65.53. The company report on November 3, 2022 that Microchip Technology Increases Quarterly Cash Dividend 41.4% Year-Over-Year to 32.8 Cents Per Share.


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“Microchip’s financial performance in the September 2022 quarter was very strong, resulting in solid cash generation and significant debt reduction,” said Steve Sanghi, Executive Chair. “Today, our Board of Directors approved a year-over-year increase in our dividend of 41.4% to 32.8 cents per share, up from our November 2021 dividend of 23.2 cents per share. This represents 81 consecutive quarters of dividend payments for Microchip and reflects confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning capital to our stockholders.”.

The results of the trading session contributed to over 6302787 shares changing hands. Over the past one week, the price volatility of Microchip Technology Incorporated stands at 4.67% while the volatility over the past one month is 4.58%.

The market cap for MCHP stock reached $35.84 billion, with 553.80 million shares outstanding and 541.05 million shares in the current float. Compared to the average trading volume of 5.02M shares, MCHP reached a trading volume of 6302787 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $81.10 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 2.95, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 4.97. The Price to Book ratio for the last quarter was 6.07, 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 17.04 with Quick ratio for the last quarter at 1.20.

How has MCHP stock performed recently?

Microchip Technology Incorporated [MCHP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.14. With this latest performance, MCHP shares gained by 2.68% in over the last four-week period, additionally plugging by 1.90% over the last 6 months – not to mention a drop of -23.59% 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 57.59, with the RSI for the last a single of trading hit 62.33, and the three-weeks RSI is set at 54.65 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 63.12, while it was recorded at 62.37 for the last single week of trading, and 67.17 for the last 200 days.

Microchip Technology Incorporated [MCHP]: Deeper insight into the 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 analysis for Microchip Technology Incorporated [MCHP]

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%.

Insider trade positions for Microchip Technology Incorporated [MCHP]

There are presently around $33,231 million, or 96.10% 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 $2.9 billion in MCHP stocks shares; and DODGE & COX, currently with $2.11 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 November and at the time of the November reporting period, where 473 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 37,860,869 shares. Additionally, 452 investors decreased positions by around 22,584,326 shares, while 154 investors held positions by with 446,662,003 shares. The mentioned changes placed institutional holdings at 507,107,198 shares, according to the latest SEC report filing. MCHP stock had 97 new institutional investments in for a total of 7,885,896 shares, while 82 institutional investors sold positions of 2,620,381 shares during the same period.

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