Microchip Technology, Inc. [NASDAQ: MCHP] stock went on a downward path that fall over -4.76% on Tuesday, amounting to a one-week price decrease of less than -2.69%.
Over the last 12 months, MCHP stock dropped by -2.88%. The one-year Microchip Technology, Inc. stock forecast points to a potential upside of 19.93. The average equity rating for MCHP stock is currently 1.74, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $40.36 billion, with 536.66 million shares outstanding and 525.13 million shares in the current float. Compared to the average trading volume of 6.55M shares, MCHP stock reached a trading volume of 7655314 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Microchip Technology, Inc. [MCHP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MCHP shares is $93.95 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 1.74. 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.
Truist have made an estimate for Microchip Technology, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 23, 2024. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $90 to $100. The new note on the price target was released on August 16, 2024, representing the official price target for Microchip Technology, Inc. stock. Previously, the target price had yet another drop from $90 to $80, while TD Cowen kept a Hold rating on MCHP stock. On August 02, 2024, analysts decreased their price target for MCHP shares from 110 to 90.
The Average True Range (ATR) for Microchip Technology, Inc. is set at 2.41, with the Price to Sales ratio for MCHP stock in the period of the last 12 months amounting to 6.13. The Price to Book ratio for the last quarter was 6.30, with the Price to Cash per share for the same quarter was set at 0.59. Price to Free Cash Flow for MCHP in the course of the last twelve months was 19.89 with Quick ratio for the last quarter at 1.08.
MCHP Stock Performance Analysis:
Microchip Technology, Inc. [MCHP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.69. With this latest performance, MCHP shares dropped by -2.30% in over the last four-week period, additionally sinking by -12.45% over the last 6 months – not to mention a drop of -2.88% 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 42.31, with the RSI for the last a single of trading hit 38.86, and the three-weeks RSI is set at 43.72 for Microchip Technology, Inc. [MCHP]. The present Moving Average for the last 50 days of trading for this stock 78.05, while it was recorded at 77.55 for the last single week of trading, and 86.24 for the last 200 days.
Insight into Microchip Technology, Inc. Fundamentals:
Microchip Technology, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.08 and a Current Ratio set at 1.94.
MCHP Stock EPS
With the latest financial reports released by the company, Microchip Technology, Inc. posted 1.62/share EPS, while the average EPS was predicted by analysts to be reported at 1.61/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.01. 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, Inc. go to 8.31%.
Microchip Technology, Inc. [MCHP] Institutonal Ownership Details
There are presently around $97.17%, or 99.26%% of MCHP stock, in the hands of institutional investors. The top three institutional holders of MCHP stocks are: VANGUARD GROUP INC with ownership of 68.03 million shares, which is approximately 12.6231%. BLACKROCK INC., holding 45.69 million shares of the stock with an approximate value of $$4.18 billion in MCHP stocks shares; and BLACKROCK INC., currently with $$2.33 billion in MCHP stock with ownership which is approximately 4.7304%.
