Microchip Technology (NASDAQ:MCHP) Lowered to "Sell" Rating by StockNews.com

StockNews.com downgraded shares of Microchip Technology (NASDAQ:MCHP - Free Report) from a hold rating to a sell rating in a report published on Monday.

Several other equities analysts have also commented on MCHP. Bank of America lowered Microchip Technology from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $80.00 to $65.00 in a research report on Monday, December 16th. The Goldman Sachs Group lowered their price objective on Microchip Technology from $72.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Piper Sandler reissued an "overweight" rating and set a $65.00 price objective (down previously from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Stifel Nicolaus lowered their price objective on Microchip Technology from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, December 3rd. Finally, Morgan Stanley reduced their price target on Microchip Technology from $71.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Two equities research analysts have 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.11.

Microchip Technology Trading Up 2.8 %

MCHP stock traded up $1.54 on Monday, reaching $55.80. The company's stock had a trading volume of 5,231,320 shares, compared to its average volume of 8,849,553. The business has a fifty day simple moving average of $56.86 and a two-hundred day simple moving average of $69.04. Microchip Technology has a 12-month low of $50.21 and a 12-month high of $100.57. The firm has a market cap of $29.96 billion, a PE ratio of 99.64 and a beta of 1.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.48 and a current ratio of 0.88.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.15). Microchip Technology had a net margin of 6.49% and a return on equity of 12.41%. As a group, research analysts forecast that Microchip Technology will post 1.3 EPS for the current year.

Microchip Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be issued a $0.455 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.82 annualized dividend and a yield of 3.26%. Microchip Technology's payout ratio is 325.00%.

Institutional Investors Weigh In On Microchip Technology

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Microchip Technology during the 4th quarter valued at about $452,627,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Microchip Technology by 273.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,345,096 shares of the semiconductor company's stock valued at $306,541,000 after purchasing an additional 3,912,895 shares during the period. Van ECK Associates Corp grew its stake in shares of Microchip Technology by 39.3% during the 4th quarter. Van ECK Associates Corp now owns 11,093,007 shares of the semiconductor company's stock valued at $636,184,000 after purchasing an additional 3,131,807 shares during the period. Franklin Resources Inc. grew its stake in shares of Microchip Technology by 90.0% during the 4th quarter. Franklin Resources Inc. now owns 6,360,805 shares of the semiconductor company's stock valued at $364,792,000 after purchasing an additional 3,013,162 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Microchip Technology by 9,901.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,857,654 shares of the semiconductor company's stock valued at $163,886,000 after purchasing an additional 2,829,082 shares during the period. 91.51% of the stock is currently owned by institutional investors.

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.