Bloomberg.com reports that out of the twenty brokerages currently monitoring the stock, the company has been given a moderate buy rating as the consensus recommendation.
The shares of Microchip Technologies Corporation have been assigned this rating (NASDAQ: MCHP).
Twelve separate analysts have assigned the company a buy rating.
In contrast, one of those analysts has assigned the company a strong buy recommendation, and five have assigned the company a hold rating.
The stock has been assigned a price target of $90.58 by brokerage firms that have updated their stock coverage within the past year.
This price target is the average price estimate these firms have assigned to the stock for the next 12 months.
The first day of trading for MCHP shares was Thursday, and the price per share opened at $80.51.
The current ratio is calculated to be 1.76, the quick ratio is calculated to be 1.04, and the debt-to-equity ratio is also calculated to be 1.04.
The stock’s price has reached $79.78 on its moving average for the past 50 days, while the price has reached $72 on its moving average for the past 200 days.
The company has a market valuation of $44.10 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-to-growth ratio of 0.84, and a beta value of 1.58.
These are just some of the indicators that the company possesses. Over the last 52 weeks, the price of a share of Microchip Technology has ranged from as low as $54.33 to as high as $87.76.
The majority of the most recent research reports have been centered on MCHP.
Piper Sandler upgraded their rating on the shares of Microchip Technology to “overweight.” She increased their price objective for the stock from $80.00 to $100.00 in a research report published on Friday, February 3. Susquehanna gave the company a “positive” rating and increased its target price for Microchip Technology from $85.00 to $100.00 in a report released on February 3.
In addition to that, they awarded the business a “positive” rating.
The “overweight” rating that KeyCorp assigned to Microchip Technologies in a research report made available to the public on Friday, February 3, is an upgrade from the “underweight” rating they had previously assigned to the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Microchip Technology and set a target price of $110.00 for the company’s stock in a report published on Wednesday, March 8.
Morgan Stanley upgraded Microchip Technology from an “underweight” rating to an “overweight” rating in a report made public on Friday, February 3.
This was the most recent and significant upgrade.
In addition, the business disclosed a quarterly dividend, which was paid out on March 7. On February 21, a dividend payment of $0.358 was made to stockholders who still held onto their shares after the payment was made.
This results in an annual dividend payment of $1.43 and a dividend yield of 1.78% when calculated annually.
The day that the dividend was payable to shareholders was last Friday, February 17.
This is an increase from the previous dividend payment of $0.33 made by Microchip Technology every quarter as a distribution to shareholders.
The dividend payout ratio (DPR) for Microchip Technologies has been recently established at 38.75%.
Recently, there has been a change in the perspective that hedge funds and other types of institutional investors take on the market.
During the third quarter, Jump Financial LLC successfully increased the number of shares of Microchip Technologies Co stock, which is owned by 2.7%.
As a result of Jump Financial LLC’s purchase of an additional 237 shares over the most recent three months, the value of its holdings in the semiconductor company’s stock increased by $542,000.
This led to an increase in the holdings’ market value of $542,000. FDx Advisors INC increased the percentage of its holdings in Microchip Technologies by 21.4% during the third quarter. FDx Advisors INC now has 5,738 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,013 shares during the most recent quarter.
The company’s total holdings are now worth $350,000 after considering the value of all the shares.
A brand new investment in Microchip Technology to the tune of 470 thousand dollars was made by Foster & Motley INC during the third quarter of the fiscal year.
In the second quarter, Mitsubishi UFJ Trust & Banking Corporation made a 10.1% increase in the Microchip Technology stock it owned, bringing its total percentage of ownership to 100%.
As a result of the purchase of 27,611 additional shares during the most recent quarter, Mitsubishi UFJ Trust & Banking Corp. now has a total of 300,692 shares in the company that manufactures semiconductors in its possession.
There is a value of $17,464,000 attached to these shares.
Last but certainly not least, Intech Investment Management LLC’s interest in Microchip Technologies increased by 22.6% during the third quarter.
Intech Investment Management LLC now owns 20,616 shares of the semiconductor company’s stock, which has a market value of $1,258,000.
This is because the company purchased an additional 3,805 shares during the preceding quarter.
Institutional investors and hedge funds collectively hold 89.85% of the total number of shares in the company.
These investors also hold voting rights.