With over 6.55 million Microchip Technology, Inc. (MCHP) shares trading Tuesday and a closing price of $86.56 on the day, the dollar volume was approximately $566.86 million. The shares have shown a negative half year performance of -4.55% and its price on 01/02/24 lost nearly -4.01%. Currently, there are 545.46M common shares owned by the public and among those 529.60M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for MCHP have a consensus price objective of $90.48. The analysts have set the share’s price value over the next 12 months at a high of $110.00 and a low of $73.00. The average price target is 4.33% above its recent price level and a downside to the estimated low will see the stock lose -18.58% over that period. But an upside of 21.31% will see the stock hit the forecast high price target while median target price for the stock is $90.00.
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Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 298,580 shares. Insider sales of the common stock occurred on 43 occasions, with total insider shares sold totaling 130,528 shares.
Shares of Microchip Technology, Inc. (NASDAQ: MCHP) opened at $89.14, down -$1.04 from a prior closing price of $90.18. The company’s stock has a 5-day price change of -4.02% and 10.45% over the past three months. MCHP shares are trading -4.01% year to date (YTD), with the 12-month market performance up to 22.87% higher. It has a 12-month low price of $68.40 and touched a high of $94.30 over the same period. MCHP has an average intraday trading volume of 4.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.53%, 5.45%, and 6.42% respectively.
Institutional ownership of Microchip Technology, Inc. (NASDAQ: MCHP) shares accounts for 92.20% of the company’s 545.46M shares outstanding.
It has a market capitalization of $46.83B and a beta (3y monthly) value of 1.67. The stock’s trailing 12-month PE ratio is 18.99, while the earnings-per-share (ttm) stands at $4.56. The company has a PEG of 1.57 and a Quick Ratio of 0.64 with the debt-to-equity ratio at 0.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.97% over the week and 2.15% over the month.
Analysts forecast that Microchip Technology, Inc. (MCHP) will achieve an EPS of $1.13 for the current quarter, $0.98 for the next quarter and $4.85 for 2025. The lowest estimate earnings-per-share for the quarter is $1.09 while analysts give the company a high EPS estimate of $1.15. Comparatively, EPS for the current quarter was $1.56 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.31%, and -10.58% over the next financial year. EPS should shrink at an annualized rate of 12.10% over the next five years, compared to 50.79% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Microchip Technology, Inc. (MCHP) as a “Strong Buy” at a consensus score of 1.67. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 8 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MCHP, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on November 08, 2023, with the firm’s price target at $100.
