Microchip Technology Incorporated (NASDAQ:MCHP – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 247,022 call options on the company. This is an increase of 1,221% compared to the average volume of 18,696 call options.
Wall Street Analyst Weigh In
MCHP has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on shares of Microchip Technology from $113.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Microchip Technology in a report on Wednesday, September 9th. Truist Financial decreased their price target on Microchip Technology from $105.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, August 7th. Finally, BMO Capital Markets assumed coverage on Microchip Technology in a research report on Friday, August 21st. They issued an “outperform” rating and a $95.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Microchip Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.67.
Read Our Latest Analysis on Microchip Technology
Insider Transactions at Microchip Technology
Institutional Trading of Microchip Technology
A number of large investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its stake in shares of Microchip Technology by 14.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 5,036 shares of the semiconductor company’s stock valued at $392,000 after buying an additional 624 shares during the period. Krilogy Financial LLC grew its stake in shares of Microchip Technology by 23.1% during the 3rd quarter. Krilogy Financial LLC now owns 12,118 shares of the semiconductor company’s stock worth $895,000 after acquiring an additional 2,276 shares during the period. Accel Wealth Management grew its stake in shares of Microchip Technology by 16.8% during the 3rd quarter. Accel Wealth Management now owns 4,445 shares of the semiconductor company’s stock worth $346,000 after acquiring an additional 639 shares during the period. Sax Wealth Advisors LLC purchased a new stake in Microchip Technology in the 3rd quarter worth about $260,000. Finally, GK Wealth Management LLC purchased a new stake in Microchip Technology in the 3rd quarter worth about $29,000. 91.51% of the stock is owned by hedge funds and other institutional investors.
Microchip Technology Stock Performance
NASDAQ MCHP traded down $3.15 during trading hours on Wednesday, reaching $71.01. 5,656,000 shares of the company were exchanged, compared to its average volume of 10,025,106. The stock has a market capitalization of $38.56 billion, a P/E ratio of 105.36, a P/E/G ratio of 0.51 and a beta of 1.77. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.83. Microchip Technology has a 1 year low of $48.52 and a 1 year high of $105.91. The business’s 50 day simple moving average is $75.89 and its 200-day simple moving average is $82.36.
Microchip Technology (NASDAQ:MCHP – Get Free Report) last released its earnings results on Thursday, August 6th. The semiconductor company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. Microchip Technology had a net margin of 9.34% and a return on equity of 14.97%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. Microchip Technology has set its Q2 2027 guidance at 0.910-0.950 EPS. On average, equities research analysts expect that Microchip Technology will post 3.16 earnings per share for the current year.
Microchip Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were paid a $0.4550 dividend. The ex-dividend date was Monday, August 24th. This represents a $1.82 annualized dividend and a yield of 2.6%. Microchip Technology’s dividend payout ratio is presently 271.64%.
Microchip Technology Company Profile
Microchip Technology Inc is a semiconductor company that develops and manufactures embedded control solutions for automotive, industrial, aerospace and defense, communications, consumer, and computing applications. Its products are designed to help customers manage processing, connectivity, power, timing, security, and data storage within electronic systems.
The company’s product portfolio includes microcontrollers, microprocessors, analog and mixed-signal devices, power-management products, timing and synchronization solutions, memory products, connectivity components, and field-programmable gate arrays.
Read More
- Five stocks we like better than Microchip Technology
- IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver?
- PBF Energy’s Stunning Rally Faces a Critical Test
- Citi Stock Falls Despite Earnings Beat: What Investors Need to Know
- How a Hurricane Could Help Some Refineries—and Hurt Others
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.
