Microchip Technology Incorporated (NASDAQ:MCHP - Get Free Report) was the recipient of unusually large options trading on Wednesday. Investors bought 16,476 call options on the company. This represents an increase of 52% compared to the typical volume of 10,867 call options.
Analyst Ratings Changes
MCHP has been the subject of a number of research analyst reports. StockNews.com lowered shares of Microchip Technology from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. KeyCorp cut their target price on shares of Microchip Technology from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, February 7th. Raymond James restated a "strong-buy" rating and set a $60.00 price target (down from $95.00) on shares of Microchip Technology in a report on Friday, February 7th. Citigroup cut their price objective on Microchip Technology from $92.00 to $82.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, 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. Two research analysts have 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 to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.11.
Check Out Our Latest Stock Report on MCHP
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new stake in shares of Microchip Technology in the third quarter worth $29,000. Peterson Financial Group Inc. acquired a new stake in Microchip Technology in the 3rd quarter worth $34,000. Truvestments Capital LLC acquired a new position in Microchip Technology in the 3rd quarter valued at approximately $34,000. Mainstream Capital Management LLC acquired a new position in Microchip Technology in the 4th quarter valued at approximately $26,000. Finally, Rakuten Securities Inc. lifted its position in shares of Microchip Technology by 309.5% in the 4th quarter. Rakuten Securities Inc. now owns 475 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 359 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Microchip Technology Stock Performance
Shares of NASDAQ:MCHP traded down $3.23 during trading on Friday, reaching $61.07. The stock had a trading volume of 13,460,788 shares, compared to its average volume of 9,662,867. The stock has a fifty day simple moving average of $56.68 and a two-hundred day simple moving average of $68.16. 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 52 week low of $50.21 and a 52 week high of $100.57. The firm has a market capitalization of $32.84 billion, a price-to-earnings ratio of 109.05 and a beta of 1.50.
Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, February 6th. The semiconductor company reported $0.13 earnings per share 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, analysts anticipate that Microchip Technology will post 1.03 earnings per share for the current fiscal year.
Microchip Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Monday, February 24th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, February 24th. Microchip Technology's dividend payout ratio (DPR) is currently 325.00%.
Microchip Technology Company Profile
(
Get Free Report)
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.
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