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

Shares of Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) have earned an average rating of "Moderate Buy" from the nineteen analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $74.37.

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 target price on shares of Microchip Technology in a research note on Tuesday, March 4th. Evercore ISI lifted their target price on shares of Microchip Technology from $65.00 to $71.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a report on Monday, February 10th. Finally, TD Cowen raised their price target on shares of Microchip Technology from $50.00 to $60.00 and gave the company a "hold" rating in a report on Tuesday, March 4th.

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Insider Activity

In related news, CFO James Eric Bjornholt sold 3,724 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total value of $226,717.12. Following the transaction, the chief financial officer now owns 33,272 shares in the company, valued at approximately $2,025,599.36. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Metis Global Partners LLC grew its position in shares of Microchip Technology by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 17,161 shares of the semiconductor company's stock worth $1,378,000 after purchasing an additional 172 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Microchip Technology by 5.8% during the 3rd quarter. Plato Investment Management Ltd now owns 3,499 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 191 shares in the last quarter. Summit Global Investments grew its position in shares of Microchip Technology by 2.5% during the 3rd quarter. Summit Global Investments now owns 8,463 shares of the semiconductor company's stock worth $679,000 after purchasing an additional 207 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Microchip Technology by 0.5% during the 4th quarter. Federated Hermes Inc. now owns 39,298 shares of the semiconductor company's stock worth $2,254,000 after purchasing an additional 209 shares in the last quarter. Finally, Northwest Bank & Trust Co grew its position in shares of Microchip Technology by 3.0% during the 4th quarter. Northwest Bank & Trust Co now owns 7,392 shares of the semiconductor company's stock worth $424,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company's stock.

Microchip Technology Price Performance

MCHP traded up $0.65 during midday trading on Monday, reaching $52.89. 325,265 shares of the company's stock were exchanged, compared to its average volume of 9,949,887. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 94.48 and a beta of 1.52. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology has a one year low of $50.21 and a one year high of $100.57. The business has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $66.17.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced 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 return on equity of 12.62% and a net margin of 6.49%. As a group, research analysts predict that Microchip Technology will post 1.03 EPS for the current year.

Microchip Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a $0.455 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.44%. Microchip Technology's payout ratio is 325.00%.

Microchip Technology Company Profile

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.