Currently, Microchip Technology, Inc. [MCHP] is trading at $79.14, up 3.56%. An important factor to consider is whether the stock is rising or falling in short-term value. The MCHP shares have gain 5.99% over the last week, with a monthly amount drifted -14.06%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Microchip Technology, Inc. [NASDAQ: MCHP] stock has seen the most recent analyst activity on August 02, 2024, when TD Cowen reiterated its Hold rating and also revised its price target to $80 from $90. Previously, BofA Securities downgraded its rating to Neutral on August 02, 2024, and dropped its price target to $90. On July 11, 2024, downgrade downgraded it’s rating to Equal-Weight and revised its price target to $100 on the stock. Mizuho upgraded its rating to a Buy and increased its price target to $115 on May 24, 2024. Jefferies initiated its recommendation with a Buy and recommended $115 as its price target on May 13, 2024. TD Cowen reiterated a Hold rating for this stock on May 07, 2024, and upped its price target to $90. In a note dated April 16, 2024, Evercore ISI initiated an Outperform rating and provided a target price of $106 on this stock.
This stock has fluctuated between a low of $68.75 and a high of $100.57 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $91.5 within the next 12 months. Microchip Technology, Inc. [NASDAQ: MCHP] shares were valued at $79.14 at the most recent close of the market. An investor can expect a potential return of 15.62% based on the average MCHP price forecast.
Analyzing the MCHP fundamentals
Trailing Twelve Months sales for Microchip Technology, Inc. [NASDAQ:MCHP] were 6.59B which represents -45.76% decline. Gross Profit Margin for this corporation currently stands at 0.62% with Operating Profit Margin at 0.28%, Pretax Profit Margin comes in at 0.25%, and Net Profit Margin reading is 0.21%. To continue investigating profitability, this company’s Return on Assets is posted at 0.09, Equity is 0.2 and Total Capital is 0.13. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.97.
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 77.05 points at the first support level, and at 74.97 for the second support level. However, for the 1st resistance point, the stock is sitting at 80.33, and for the 2nd resistance point, it is at 81.53.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Microchip Technology, Inc. [NASDAQ:MCHP] is 1.94. On the other hand, the Quick Ratio is 1.08, and the Cash Ratio is 0.21. Considering the valuation of this stock, the price to sales ratio is 6.45, the price to book ratio is 6.63 and price to earnings (TTM) ratio is 31.62.
Transactions by insiders
Recent insider trading involved CHAPMAN MATTHEW W, Director, that happened on Jun 10 ’24 when 2748.0 shares were sold. Director, Johnson Karlton D completed a deal on May 31 ’24 to sell 227.0 shares. Meanwhile, Senior VP and CFO Bjornholt James Eric sold 3188.0 shares on May 23 ’24.
