Microchip Technology Incorporated (NASDAQ:MCHP) has a beta value of 1.61 and has seen 5.18 million shares traded in the last trading session. The company, currently valued at $35.51B, closed the last trade at $65.37 per share which meant it lost -$1.52 on the day or -2.27% during that session. The MCHP stock price is -37.68% off its 52-week high price of $90.00 and 16.89% above the 52-week low of $54.33. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.86 million shares traded. The 3-month trading volume is 4.52 million shares.
The consensus among analysts is that Microchip Technology Incorporated (MCHP) is an Overweight stock at the moment, with a recommendation rating of 2.10. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 7 out of 25 have rated it as a Hold, with 16 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $1.34.
Microchip Technology Incorporated (NASDAQ:MCHP) trade information
Sporting -2.27% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 09/20/22 when the MCHP stock price touched $65.37 or saw a rise of 2.33%. Year-to-date, Microchip Technology Incorporated shares have moved -24.91%, while the 5-day performance has seen it change 3.50%. Over the past 30 days, the shares of Microchip Technology Incorporated (NASDAQ:MCHP) have changed -7.72%. Short interest in the company has seen 13.93 million shares shorted with days to cover at 2.78.
Wall Street analysts have a consensus price target for the stock at $86.65, which means that the shares’ value could jump 24.56% from current levels. The projected low price target is $67.00 while the price target rests at a high of $125.00. In that case, then, we find that the current price level is -91.22% off the targeted high while a plunge would see the stock gain -2.49% from current levels.
Microchip Technology Incorporated (MCHP) estimates and forecasts
Figures show that Microchip Technology Incorporated shares have underperformed across the wider relevant industry. The company’s shares have lost -14.63% over the past 6 months, with this year growth rate of 23.64%, compared to 31.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 35.40% and 25.20% for the next quarter. Revenue growth from the last financial year stood is estimated to be 15.10%.
19 analysts offering their estimates for the company have set an average revenue estimate of $1.95 billion for the current quarter. 19 have an estimated revenue figure of $1.96 billion for the next quarter concluding in Sep 2022. Year-ago sales stood $1.57 billion and $1.65 billion respectively for this quarter and the next, and analysts expect sales will grow by 24.40% for the current quarter and 18.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 44.30% over the past 5 years. Earnings growth for 2022 is a modest 75.90% while over the next 5 years, the company’s earnings are expected to increase by 9.20%.
Microchip Technology Incorporated is expected to release its next earnings report between February 02 and February 07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.20 at a share yield of 1.84%. The company’s dividend yield has gone up over the past 12 months.
Microchip Technology Incorporated (NASDAQ:MCHP)’s Major holders
Insiders own 2.01% of the company shares, while shares held by institutions stand at 95.24% with a share float percentage of 97.19%. Investors are also buoyed by the number of investors in a company, with Microchip Technology Incorporated having a total of 1,351 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 64.43 million shares worth more than $4.84 billion. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 11.66% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 44.94 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $3.38 billion and represent 8.13% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 3.72% shares in the company for having 20.56 million shares of worth $1.19 billion while later fund manager owns 16.03 million shares of worth $1.2 billion as of Mar 30, 2022, which makes it owner of about 2.90% of company’s outstanding stock.