News articles about Microchip Technology (NASDAQ:MCHP) have trended somewhat positive on Monday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Microchip Technology earned a news sentiment score of 0.12 on Accern’s scale. Accern also gave press coverage about the semiconductor company an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an impact on the stock’s share price in the near future.
Several equities analysts recently commented on the company. BidaskClub lowered Microchip Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Raymond James Financial, Inc. assumed coverage on Microchip Technology in a research note on Friday, June 16th. They set an “outperform” rating and a $95.00 price target for the company. B. Riley restated a “buy” rating and set a $115.00 price target on shares of Microchip Technology in a research note on Sunday, June 11th. Mizuho restated a “neutral” rating and set a $80.00 price target (up from $75.00) on shares of Microchip Technology in a research note on Wednesday, June 7th. Finally, Credit Suisse Group restated an “outperform” rating and set a $90.00 price target on shares of Microchip Technology in a research note on Wednesday, June 7th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Microchip Technology currently has a consensus rating of “Buy” and a consensus target price of $85.25.
Shares of Microchip Technology (NASDAQ:MCHP) traded up 0.08% during mid-day trading on Monday, reaching $78.42. The company’s stock had a trading volume of 324,217 shares. The stock has a market capitalization of $17.99 billion, a P/E ratio of 111.23 and a beta of 1.05. The company has a 50 day moving average price of $81.67 and a 200 day moving average price of $73.61. Microchip Technology has a 12 month low of $50.77 and a 12 month high of $87.49.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.10. The company had revenue of $902.70 million for the quarter, compared to the consensus estimate of $891.14 million. Microchip Technology had a return on equity of 31.64% and a net margin of 4.83%. The company’s quarterly revenue was up 61.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. On average, equities research analysts anticipate that Microchip Technology will post $4.96 earnings per share for the current fiscal year.
In related news, CFO James Eric Bjornholt sold 2,510 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $80.29, for a total value of $201,527.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen V. Drehobl sold 3,974 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $80.29, for a total transaction of $319,072.46. Following the completion of the transaction, the vice president now owns 14,263 shares of the company’s stock, valued at approximately $1,145,176.27. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
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About Microchip Technology
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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