Microchip Technology Incorporated (NASDAQ:MCHP) Given Average Rating of "Moderate Buy" by Analysts

Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $77.11.

MCHP has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on shares of Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Piper Sandler restated an "overweight" rating and issued a $65.00 target price (down previously from $85.00) on shares of Microchip Technology in a research note on Friday, February 7th. Rosenblatt Securities reiterated a "buy" rating and set a $90.00 price target on shares of Microchip Technology in a research note on Thursday, February 6th. Morgan Stanley cut their price objective on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Finally, Susquehanna decreased their target price on Microchip Technology from $95.00 to $90.00 and set a "positive" rating for the company in a report on Wednesday, November 6th.

Hedge Funds Weigh In On Microchip Technology

A number of hedge funds have recently bought and sold shares of the business. CX Institutional lifted its position in shares of Microchip Technology by 6.4% during the 3rd quarter. CX Institutional now owns 12,902 shares of the semiconductor company's stock valued at $1,036,000 after buying an additional 776 shares in the last quarter. Creative Planning lifted its holdings in Microchip Technology by 0.6% during the third quarter. Creative Planning now owns 116,549 shares of the semiconductor company's stock valued at $9,358,000 after purchasing an additional 719 shares in the last quarter. Swedbank AB lifted its holdings in Microchip Technology by 62.3% during the third quarter. Swedbank AB now owns 34,885 shares of the semiconductor company's stock valued at $2,801,000 after purchasing an additional 13,392 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Microchip Technology by 24.4% in the third quarter. Vontobel Holding Ltd. now owns 67,532 shares of the semiconductor company's stock valued at $5,422,000 after purchasing an additional 13,245 shares during the period. Finally, Indiana Trust & Investment Management Co increased its stake in shares of Microchip Technology by 25.0% during the third quarter. Indiana Trust & Investment Management Co now owns 1,249 shares of the semiconductor company's stock worth $100,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company's stock.

Microchip Technology Stock Up 9.9 %

Shares of Microchip Technology stock traded up $5.73 during trading on Thursday, reaching $63.59. The company's stock had a trading volume of 17,755,366 shares, compared to its average volume of 9,212,872. Microchip Technology has a 1-year low of $50.21 and a 1-year high of $100.57. The company has a 50-day simple moving average of $56.58 and a two-hundred day simple moving average of $68.22. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $34.20 billion, a price-to-earnings ratio of 113.55 and a beta of 1.50.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.62%. As a group, equities analysts forecast that Microchip Technology will post 1.03 earnings per share for the current year.

Microchip Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.82 annualized dividend and a dividend yield of 2.86%. Microchip Technology's dividend payout ratio is presently 325.00%.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.