Microchip Technology Inc. (MCHP) Given Consensus Recommendation of “Hold” by Brokerages

Microchip Technology Inc. (NASDAQ:MCHP) has earned a consensus rating of “Hold” from the twenty-two ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $105.12.

A number of equities analysts have recently commented on MCHP shares. Zacks Investment Research downgraded shares of Microchip Technology from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. TheStreet raised shares of Microchip Technology from a “c+” rating to a “b-” rating in a research note on Thursday, February 21st. B. Riley lifted their price target on shares of Microchip Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Citigroup reaffirmed a “buy” rating and set a $105.00 price target on shares of Microchip Technology in a research note on Thursday, February 7th. Finally, BidaskClub downgraded shares of Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st.

Shares of MCHP stock traded down $0.24 during mid-day trading on Thursday, reaching $81.59. The company’s stock had a trading volume of 2,895,194 shares, compared to its average volume of 2,922,418. Microchip Technology has a 12-month low of $60.70 and a 12-month high of $104.20. The company has a current ratio of 0.93, a quick ratio of 0.63 and a debt-to-equity ratio of 1.69. The company has a market cap of $19.42 billion, a PE ratio of 13.42, a P/E/G ratio of 1.09 and a beta of 1.31.



Microchip Technology (NASDAQ:MCHP) last issued its earnings results on Tuesday, May 7th. The semiconductor company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. Microchip Technology had a net margin of 6.65% and a return on equity of 29.27%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities research analysts expect that Microchip Technology will post 5.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $0.3655 dividend. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.37. This represents a $1.46 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, May 20th. Microchip Technology’s dividend payout ratio is currently 24.01%.

In other news, VP James Eric Bjornholt sold 2,356 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $89.24, for a total value of $210,249.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director L B. Day sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $84.82, for a total transaction of $296,870.00. Following the completion of the sale, the director now directly owns 9,238 shares of the company’s stock, valued at $783,567.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,044 shares of company stock valued at $684,326. Company insiders own 2.13% of the company’s stock.

Large investors have recently modified their holdings of the company. Teachers Advisors LLC boosted its holdings in shares of Microchip Technology by 0.3% in the 3rd quarter. Teachers Advisors LLC now owns 534,215 shares of the semiconductor company’s stock valued at $42,155,000 after purchasing an additional 1,450 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Microchip Technology by 22.3% in the 3rd quarter. Nordea Investment Management AB now owns 108,004 shares of the semiconductor company’s stock valued at $8,523,000 after purchasing an additional 19,668 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Microchip Technology by 3.4% in the 3rd quarter. Legal & General Group Plc now owns 1,134,057 shares of the semiconductor company’s stock valued at $89,488,000 after purchasing an additional 37,412 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Microchip Technology by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 26,236,361 shares of the semiconductor company’s stock valued at $2,070,312,000 after purchasing an additional 237,329 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Microchip Technology by 1.7% in the 4th quarter. State of Alaska Department of Revenue now owns 38,074 shares of the semiconductor company’s stock valued at $2,737,000 after purchasing an additional 636 shares during the last quarter.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Featured Story: Cash Flow Analysis in Stock Selection

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.