Analyst Recommendations for Microchip Technology Incorporated (NASDAQ:MCHP)
Microchip Technology Incorporated (NASDAQ:MCHP) has been receiving a lot of attention from analysts lately, with a mix of ratings ranging from sell to strong buy. According to Marketbeat, the average recommendation for the stock is currently a “Moderate Buy” from the nineteen brokerages covering it.
One investment analyst has rated the stock as a sell, while four have issued a hold rating, thirteen have given a buy rating, and one has issued a strong buy rating on the company. The average twelve-month target price among analysts who have issued ratings on the stock in the last year is $74.37.
Recent comments from brokerages include a “buy” rating from Rosenblatt Securities with a $70.00 price target, a “strong-buy” rating from Raymond James with a $60.00 price objective, and a downgrade from Bank of America to an “underperform” rating with a lowered price target of $65.00.
Microchip Technology stock opened at $59.77 on Monday, with a 50-day simple moving average of $56.98 and a two-hundred day simple moving average of $66.56. The company has a market cap of $32.15 billion and a price-to-earnings ratio of 106.73.
In terms of performance, Microchip Technology last posted its quarterly earnings data on Thursday, February 6th, reporting $0.13 earnings per share for the quarter, missing the consensus estimate of $0.28. Analysts expect the company to post 1.03 earnings per share for the current fiscal year.
Additionally, Microchip Technology recently declared a quarterly dividend, with shareholders of record on Monday, February 24th receiving a dividend of $0.455 per share. The ex-dividend date was also on February 24th, representing a $1.82 dividend on an annualized basis and a yield of 3.05%.
In terms of insider activity, CFO James Eric Bjornholt sold 3,724 shares of the company’s stock in a transaction on February 25th. Several hedge funds and institutional investors have also been active in either adding to or reducing their stakes in MCHP.
Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions. The company offers a range of microcontrollers and specialized microcontrollers for various applications.
Overall, Microchip Technology has been a topic of interest among analysts and investors, with a mix of ratings and recent developments impacting the stock’s performance.