Microchip Technology, Inc. [MCHP] stock is trading at $87.00, up 3.40%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The MCHP shares have gain 5.02% over the last week, with a monthly amount glided 2.14%, and seem to be holding up well over a long-time horizon.
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On 26, February 2024, Microchip Launches New dsPIC® DSC-Based Integrated Motor Drivers that Bring Controllers, Gate Drivers and Communications to a Single Device. In a post published today on Yahoo Finance, A corresponding ecosystem of support tools will help simplify motor control system development and accelerate time to market.
From an analyst’s perspective:
Microchip Technology, Inc. [NASDAQ: MCHP] stock has seen the most recent analyst activity on February 02, 2024, when TD Cowen reiterated its Market Perform rating and also boosted its price target to $80 from $75. Previously, Wolfe Research upgraded its rating to Outperform on January 18, 2024, and kept the price target unchanged to $105. On January 04, 2024, downgrade downgraded it’s rating to Neutral but maintained its price target of $80 on the stock. Citigroup upgraded its rating to a Buy but stick to its price target of $100 on November 08, 2023. Wolfe Research initiated its recommendation with a Peer Perform. Truist reiterated a Buy rating for this stock on July 14, 2023, and upped its price target to $104. In a note dated May 05, 2023, TD Cowen reiterated an Market Perform rating on this stock and revised its target price from $85 to $80.
Microchip Technology, Inc. [MCHP] stock has fluctuated between $68.75 and $94.30 over the past year. Currently, Wall Street analysts expect the stock to reach $87.27 within the next 12 months. Microchip Technology, Inc. [NASDAQ: MCHP] shares were valued at $87.00 at the most recent close of the market. An investor can expect a potential return of 0.31% based on the average MCHP price forecast.
Analyzing the MCHP fundamentals
Microchip Technology, Inc. [NASDAQ:MCHP] reported sales of 8.54B for the trailing twelve months, which represents a drop of -18.60%. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at 0.37%, Pretax Profit Margin comes in at 0.35%, and Net Profit Margin reading is 0.28%. To continue investigating profitability, this company’s Return on Assets is posted at 0.15, Equity is 0.34 and Total Capital is 0.25. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.81.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 85.09 points at the first support level, and at 83.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 88.38, and for the 2nd resistance point, it is at 89.76.
Microchip Technology, Inc. [MCHP] reported earnings per share of $1.08 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.04/share, meaning a difference of $0.04 and a surprise factor of 3.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.62 per share as compared to estimates of $1.61 per share, a difference of $0.01 representing a surprise of 0.60%.
Ratios To Look Out For
For context, Microchip Technology, Inc.’s Current Ratio is 0.98. In addition, the Quick Ratio stands at 0.58 and the Cash Ratio stands at 0.09. Considering the valuation of this stock, the price to sales ratio is 5.50, the price to book ratio is 6.64 and price to earnings (TTM) ratio is 20.33.
Transactions by insiders
Recent insider trading involved Bjornholt James Eric, Senior VP and CFO, that happened on Feb 23 when 1970.0 shares were sold. Director, Johnson Karlton D completed a deal on Feb 06 to sell 370.0 shares. Meanwhile, Senior VP and CFO Bjornholt James Eric sold 2324.0 shares on Nov 22.
