Market Analysts see Microchip Technology Incorporated [MCHP] gaining to $75. Time to buy?

Microchip Technology Incorporated [NASDAQ: MCHP] jumped around 2.05 points on Tuesday, while shares priced at $76.94 at the close of the session, up 2.74%. The company report on November 10, 2022 that New Industrial Gigabit Ethernet Transceivers Offer Precision Timing Protocol to Optimize Process Automation Functionality.

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Microchip’s LAN8840/41 are single-port Gigabit Ethernet transceivers delivering PTP-v2 (IEEE 1588-2008) time stamping for highly coordinated factory and process automation.

Microchip Technology Incorporated stock is now -11.62% down from its year-to-date (YTD) trading value. MCHP Stock saw the intraday high of $78.12 and lowest of $75.59 per share. The company’s 52-week high price is 90.00, which means current price is +41.62% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 5.24M shares, MCHP reached a trading volume of 4943686 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 3.19, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 5.40. The Price to Book ratio for the last quarter was 6.95, with the Price to Cash per share for the same quarter was set at 0.57. Price to Free Cash Flow for MCHP in the course of the last twelve months was 18.68 with Quick ratio for the last quarter at 0.60.

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 13.55. With this latest performance, MCHP shares gained by 30.54% in over the last four-week period, additionally plugging by 11.18% over the last 6 months – not to mention a drop of -7.54% 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 71.03, with the RSI for the last a single of trading hit 76.70, and the three-weeks RSI is set at 66.42 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 64.07, while it was recorded at 73.62 for the last single week of trading, and 67.14 for the last 200 days.

Microchip Technology Incorporated [MCHP]: Deeper insight into the fundamentals

Microchip Technology Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.10.

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 12.60%.

Insider trade positions for Microchip Technology Incorporated [MCHP]

There are presently around $38,692 million, or 96.70% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 65,524,560, which is approximately 0.641% of the company’s market cap and around 2.08% of the total institutional ownership; BLACKROCK INC., holding 43,591,274 shares of the stock with an approximate value of $3.35 billion in MCHP stocks shares; and DODGE & COX, currently with $2.39 billion in MCHP stock with ownership of nearly -3.492% 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 478 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 54,160,607 shares. Additionally, 436 investors decreased positions by around 52,622,477 shares, while 167 investors held positions by with 396,099,719 shares. The mentioned changes placed institutional holdings at 502,882,803 shares, according to the latest SEC report filing. MCHP stock had 97 new institutional investments in for a total of 27,342,841 shares, while 74 institutional investors sold positions of 4,313,369 shares during the same period.


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