Microchip Technology Incorporated [NASDAQ: MCHP] slipped around -1.88 points on Thursday, while shares priced at $77.50 at the close of the session, down -2.37%. The company report on April 20, 2023 at 5:10 PM that Microchip Technology Announces Promotion of Rich Simoncic to Executive Vice President.
Simoncic started his business career as a new college graduate at Microchip in 1989, and has had progressively increasing development, operational and business unit responsibilities. He founded the analog business at Microchip in 1998 and has been instrumental in building it to a more than $2 billion annual business through a combination of organic efforts as well as acquisitions. He was promoted to vice president in 1995, to corporate vice president in 2001 and to senior vice president in 2019. He holds a bachelor’s degree in electrical engineering technology from DeVry Institute of Technology.
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Microchip Technology Incorporated stock is now 10.32% up from its year-to-date (YTD) trading value. MCHP Stock saw the intraday high of $78.71 and lowest of $76.95 per share. The company’s 52-week high price is 87.76, which means current price is +13.30% above from all time high which was touched on 02/03/23.
Compared to the average trading volume of 4.75M shares, MCHP reached a trading volume of 6366132 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 $96.45 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.
Credit Suisse have made an estimate for Microchip Technology Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, Stifel raised their target price from $70 to $75. The new note on the price target was released on June 28, 2022, representing the official price target for Microchip Technology Incorporated stock. Previously, the target price had yet another raise to $79, while Goldman analysts kept a Neutral rating on MCHP stock. On February 04, 2022, analysts decreased their price target for MCHP shares from 85 to 80.
The Average True Range (ATR) for Microchip Technology Incorporated is set at 2.43, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 5.31. The Price to Book ratio for the last quarter was 6.74, with the Price to Cash per share for the same quarter was set at 0.52. Price to Free Cash Flow for MCHP in the course of the last twelve months was 16.90 with Quick ratio for the last quarter at 1.00.
How has MCHP stock performed recently?
Microchip Technology Incorporated [MCHP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.28. With this latest performance, MCHP shares dropped by -5.82% in over the last four-week period, additionally plugging by 30.76% over the last 6 months – not to mention a rise of 12.48% 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 41.15, with the RSI for the last a single of trading hit 36.51, and the three-weeks RSI is set at 44.15 for Microchip Technology Incorporated [MCHP]. The present Moving Average for the last 50 days of trading for this stock 81.49, while it was recorded at 79.54 for the last single week of trading, and 72.07 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 Total Capital for MCHP is now 13.35, given the latest momentum, and Return on Invested Capital for the company is 9.61. Return on Equity for this stock inclined to 22.89, with Return on Assets sitting at 7.87. When it comes to the capital structure of this company, Microchip Technology Incorporated [MCHP] has a Total Debt to Total Equity ratio set at 133.17. Additionally, MCHP Total Debt to Total Capital is recorded at 57.11, with Total Debt to Total Assets ending up at 48.46. Long-Term Debt to Equity for the company is recorded at 132.60, with the Long-Term Debt to Total Capital now at 56.87.
Reflecting on the efficiency of the workforce at the company, Microchip Technology Incorporated [MCHP] managed to generate an average of $61,214 per employee. Receivables Turnover for the company is 6.59 with a Total Asset Turnover recorded at a value of 0.42.Microchip Technology Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 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 13.80%.
Insider trade positions for Microchip Technology Incorporated [MCHP]
There are presently around $39,356 million, or 93.30% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 66,300,914, which is approximately 1.185% of the company’s market cap and around 2.09% of the total institutional ownership; BLACKROCK INC., holding 43,245,257 shares of the stock with an approximate value of $3.43 billion in MCHP stocks shares; and DODGE & COX, currently with $1.86 billion in MCHP stock with ownership of nearly -24.867% of the company’s market capitalization.
Positions in Microchip Technology Incorporated stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 567 institutional holders increased their position in Microchip Technology Incorporated [NASDAQ:MCHP] by around 25,973,618 shares. Additionally, 438 investors decreased positions by around 33,840,565 shares, while 153 investors held positions by with 435,972,342 shares. The mentioned changes placed institutional holdings at 495,786,525 shares, according to the latest SEC report filing. MCHP stock had 148 new institutional investments in for a total of 4,177,761 shares, while 64 institutional investors sold positions of 4,827,222 shares during the same period.