Microchip Technology, Inc [MCHP] stock prices are up 2.13% to $66.51 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The MCHP shares have gain 1.39% over the last week, with a monthly amount drifted -11.64%, 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 November 06, 2024, when TD Cowen reiterated its Hold rating and also revised its price target to $70 from $80. Previously, Truist downgraded its rating to Hold on September 23, 2024, and dropped its price target to $80. On August 16, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $100 on the stock. TD Cowen reiterated its Hold rating and decreased its price target to $80 on August 02, 2024. BofA Securities downgraded its rating to a Neutral and reduced its price target to $90 on August 02, 2024. Morgan Stanley downgraded its rating to Equal-Weight for this stock on July 11, 2024, and downed its price target to $100. In a note dated May 24, 2024, Mizuho upgraded an Buy rating on this stock and boosted its target price from $85 to $115.
The stock price of Microchip Technology, Inc [MCHP] has been fluctuating between $62.62 and $100.57 over the past year. Currently, Wall Street analysts expect the stock to reach $87.89 within the next 12 months. Microchip Technology, Inc [NASDAQ: MCHP] shares were valued at $66.51 at the most recent close of the market. An investor can expect a potential return of 32.15% based on the average MCHP price forecast.
Analyzing the MCHP fundamentals
The Microchip Technology, Inc [NASDAQ:MCHP] reported sales of 5.50B for trailing twelve months, representing a drop of -48.37%. Gross Profit Margin for this corporation currently stands at 0.58% with Operating Profit Margin at 0.21%, Pretax Profit Margin comes in at 0.17%, and Net Profit Margin reading is 0.14%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.12 and Total Capital is 0.09. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.02.
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 65.55 points at the first support level, and at 64.59 for the second support level. However, for the 1st resistance point, the stock is sitting at 67.15, and for the 2nd resistance point, it is at 67.80.
Ratios To Look Out For
It’s worth pointing out that Microchip Technology, Inc [NASDAQ:MCHP]’s Current Ratio is 0.88. On the other hand, the Quick Ratio is 0.48, and the Cash Ratio is 0.09. Considering the valuation of this stock, the price to sales ratio is 6.50, the price to book ratio is 5.69 and price to earnings (TTM) ratio is 46.38.
Transactions by insiders
Recent insider trading involved Bjornholt James Eric, Senior VP and CFO, that happened on Aug 23 ’24 when 2154.0 shares were sold. Officer, Bjornholt James Eric completed a deal on Aug 23 ’24 to buy 2154.0 shares. Meanwhile, Director CHAPMAN MATTHEW W sold 2748.0 shares on Jun 10 ’24.
