At the time of writing, Microchip Technology, Inc. [MCHP] stock is trading at $91.67, up 2.83%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The MCHP shares have gain 4.19% over the last week, with a monthly amount glided 3.19%, and seem to be holding up well over a long-time horizon.
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On 9, April 2024, Microchip Brings Enhanced Code Protection and up to 15W of Power Delivery to its USB Microcontroller Portfolio. In a post published today on Yahoo Finance, AVR® DU Family enables embedded designers to easily implement USB functionality into a wider range of systems.
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.
For the past year, the stock price of Microchip Technology, Inc. fluctuated between $68.75 and $94.30. Currently, Wall Street analysts expect the stock to reach $88.54 within the next 12 months. Microchip Technology, Inc. [NASDAQ: MCHP] shares were valued at $91.67 at the most recent close of the market. An investor can expect a potential drop of -3.41% based on the average MCHP price forecast.
Analyzing the MCHP fundamentals
According to Microchip Technology, Inc. [NASDAQ:MCHP], the company’s sales were 8.54B for trailing twelve months, which represents an -18.60% plunge. 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.81.
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 90.54 points at the first support level, and at 89.41 for the second support level. However, for the 1st resistance point, the stock is sitting at 92.31, and for the 2nd resistance point, it is at 92.95.
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
It is important to note that Microchip Technology, Inc. [NASDAQ:MCHP] has a current ratio of 0.98. As well, the Quick Ratio is 0.58, while the Cash Ratio is 0.09. Considering the valuation of this stock, the price to sales ratio is 5.80, the price to book ratio is 7.00 and price to earnings (TTM) ratio is 21.42.
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.
