Microchip Technology, Inc. (MCHP) concluded trading on Wednesday at a closing price of $91.52, with 9.14 million shares of worth about $836.56 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.47% during that period and on July 17, 2024 the price saw a loss of about -3.47%. Currently the company’s common shares owned by public are about 536.66M shares, out of which, 525.25M shares are available for trading.
Stock saw a price change of -4.65% in past 5 days and over the past one month there was a price change of 0.19%. Year-to-date (YTD), MCHP shares are showing a performance of 1.49% which decreased to -0.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $68.75 but also hit the highest price of $100.57 during that period. The average intraday trading volume for Microchip Technology, Inc. shares is 5.87 million. The stock is currently trading -0.36% below its 20-day simple moving average (SMA20), while that difference is down -2.06% for SMA50 and it goes to 5.61% higher than SMA200.
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Microchip Technology, Inc. (NASDAQ: MCHP) currently have 536.66M outstanding shares and institutions hold larger chunk of about 94.09% of that.
The stock has a current market capitalization of $49.10B and its 3Y-monthly beta is at 1.53. PE ratio of stock for trailing 12 months is 26.35, while it has posted earnings per share of $3.47 in the same period. It has Quick Ratio of 0.67 while making debt-to-equity ratio of 0.93. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MCHP, volatility over the week remained 3.43% while standing at 2.75% over the month.
Stock’s fiscal year EPS is expected to drop by -46.26% while it is estimated to increase by 62.44% in next year. EPS is likely to shrink at an annualized rate of -6.30% for next 5-years, compared to annual growth of 37.42% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on July 11, 2024 offering an Equal-weight rating for the stock and assigned a target price range of between $102 and $100 to it. Coverage by Mizuho stated Microchip Technology, Inc. (MCHP) stock as a Buy in their note to investors on May 24, 2024, suggesting a price target of $115 for the stock. On May 13, 2024, Jefferies Initiated their recommendations, while on May 07, 2024, TD Cowen Reiterated their ratings for the stock with a price target of $90. Stock get an Outperform rating from Evercore ISI on April 16, 2024.
