Microchip Technology Incorporated (NASDAQ:MCHP)’s traded shares stood at 2,871,181 during the last session, with the company’s beta value hitting 1.64. At the close of trading, the stock’s price was $133.62, to imply an increase of 4.79% or $6.11 in intraday trading. The MCHP share’s 52-week high remains $135.29, putting it -1.25% down since that peak but still an impressive +60.22% since price per share fell to its 52-week low of $53.15. The company has a valuation of $34.67 Billion, with an average of 1.43 Million shares in intraday trading volume over the past 10 days and average of 1.82 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Microchip Technology Incorporated (MCHP), translating to a mean rating of 2. Of 24 analyst(s) looking at the stock, none analyst(s) give MCHP a Sell rating. None of those analysts rate the stock as Overweight while 5 advise Hold as 19 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $1.57.
Microchip Technology Incorporated (NASDAQ:MCHP) trade information
After registering a 4.79% upside on the day, Microchip Technology Incorporated (MCHP) has traded green over the past five days. The stock hit a weekly high of $135.29 this Friday, Nov 20, jumping 1.03% in its intraday price action. The 5-day price performance for the stock is 6.14%, and 20.37% over 30 days. With these gigs, the year-to-date price performance is 27.86%. Short interest in Microchip Technology Incorporated (NASDAQ:MCHP) saw shorts transact 12.14 Million shares and set a 6.67 days time to cover.
Analysts on Wall Street suggest a consensus price target of $136.19, implying an increase of 1.92% to the stock’s current value. The extremes give us $119 and $150 for target low and target high price respectively. As such, MCHP is trading +12.26% off suggested target high and -10.94% from its likely low.
Microchip Technology Incorporated (MCHP) estimates and forecasts
Looking at statistics comparing Microchip Technology Incorporated share performance against respective industry, we note that the company has outperformed competitors. Microchip Technology Incorporated (MCHP) shares are +45.21% up over the last 6 months, with its year-to-date growth rate higher than industry average at 11.21% against -10.7%. But the company is intensifying its growth estimates for the 2020 fiscal year. Revenue is forecast to grow 18.9% this quarter before jumping 11% for the next one. The company projects its revenue will grow 1.3% compared to the previous financial year.
Forecast revenue for the current quarter as set by 19 analysts is $1.36 Billion. Meanwhile, for the quarter ending March 01, 2021, a total of 19 analyst(s) estimate revenue growth to $1.38 Billion. Earnings reports from the last fiscal year show that sales brought in $1.29 Billion for this quarter and $1.33 Billion the next quarter. In this case, analysts estimate current quarter sales to rise 5.3% before jumping 4% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 6.2% for the past 5-year period. While 2020 is set for a 50.8% return in earnings, projections for the next 5 years are at 10.1% annually.
Microchip Technology Incorporated has its next earnings report out between February 02 and February 08, 2021. Despite the year witnessing an increase in the company’s overall debt, investors are exuding optimism of an improved dividend yield. Microchip Technology Incorporated has a forward dividend ratio of 1.47, with the share yield ticking at 1.16% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 1.92%.
Microchip Technology Incorporated (NASDAQ:MCHP)’s Major holders
Microchip Technology Incorporated insiders hold 2.07% of total outstanding shares, with institutional holders owning 96.44% of the shares at 98.47% float percentage. In total, 1109 institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29 this year, the company held over 29.35 Million shares (or 11.27% of shares), all amounting to roughly $3.02 Billion.
The next major institution holding the largest number of shares is Dodge & Cox Inc with 20.75 Million shares, or about 7.97% of shares outstanding. As of the market price on 44103, these shares were worth $2.13 Billion.
We also have Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Microchip Technology Incorporated (MCHP) shares. Going by data provided on 44011, Dodge & Cox Stock Fund holds roughly 14,895,533 shares. This is just over 5.72% of the total shares, with a market valuation of $1.57 Billion. Data from the same date shows that the other fund manager holds a little less at 6.99 Million, or 2.68% of the shares, all valued at about $736.13 Million.