Currently, there are 536.66M common shares owned by the public and among those 525.13M shares have been available to trade.
The company’s stock has a 5-day price change of -2.69% and -17.80% over the past three months. MCHP shares are trading -16.58% year to date (YTD), with the 12-month market performance down to -2.88% lower. It has a 12-month low price of $68.75 and touched a high of $100.57 over the same period. MCHP has an average intraday trading volume of 6.55 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 -3.32%, -3.61%, and -12.77% respectively.
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Institutional ownership of Microchip Technology, Inc. (NASDAQ: MCHP) shares accounts for 94.18% of the company’s 536.66M shares outstanding.
It has a market capitalization of $40.36B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 30.06, while the earnings-per-share (ttm) stands at $2.50. The company has a PEG of 3.62 and a Quick Ratio of 1.08 with the debt-to-equity ratio at 0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.74% over the week and 2.71% over the month.
Earnings per share for the fiscal year are expected to decrease by -59.37%, and 65.45% over the next financial year. EPS should shrink at an annualized rate of 8.31% over the next five years, compared to 37.42% over the past 5-year period.
Looking at the support for the MCHP, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on September 23, 2024, with the firm’s price target at $89-$80. Piper Sandler coverage for the Microchip Technology, Inc. (MCHP) stock in a research note released on August 16, 2024 offered a Overweight rating with a price target of $100. TD Cowen was of a view on August 02, 2024 that the stock is Hold, while BofA Securities gave the stock Neutral rating on August 02, 2024, issuing a price target of $110- $90. Morgan Stanley on their part issued Equal-Weight rating on July 11, 2024.
