A share price of Microchip Technology, Inc. [MCHP] is currently trading at $90.57, up 1.95%. An important factor to consider is whether the stock is rising or falling in short-term value. The MCHP shares have gain 4.20% over the last week, with a monthly amount glided 7.37%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, Microchip Technology to Present at the Raymond James Instutional Investors Conference. In a post published today on Yahoo Finance, (NASDAQ:MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that the Company will present at the Raymond James Institutional Investor Conference on Wednesday, March 6, 2024 at 9:15 a.m. (Eastern Time). Presenting for the Company will be Mr. Eric Bjornholt, Senior Vice President and CFO. A live webcast of the presentation will be made available by Raymond James, and can be accessed on the Microchip website at www.microchip.com.
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. experienced fluctuations in its stock price throughout the past year between $68.75 and $94.30. 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 $90.57 at the most recent close of the market. An investor can expect a potential drop of -3.64% based on the average MCHP price forecast.
Analyzing the MCHP fundamentals
Trailing Twelve Months sales for Microchip Technology, Inc. [NASDAQ:MCHP] were 8.54B which represents -18.60% decline. 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 88.88 points at the first support level, and at 87.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 91.57, and for the 2nd resistance point, it is at 92.57.
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
To put it in perspective, the Current Ratio for Microchip Technology, Inc. [NASDAQ:MCHP] is 0.98. On the other hand, the Quick Ratio is 0.58, and the Cash Ratio is 0.09. Considering the valuation of this stock, the price to sales ratio is 5.73, the price to book ratio is 6.91 and price to earnings (TTM) ratio is 21.16.
Transactions by insiders
Recent insider trading involved SANGHI STEVE, Executive Chair, that happened on Mar 07 ’24 when 36443.0 shares were sold. Director, Johnson Karlton D completed a deal on Mar 06 ’24 to sell 92.0 shares. Meanwhile, Senior VP and CFO Bjornholt James Eric sold 1970.0 shares on Feb 23 ’24.
