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Future Outlook And Stock Price Performance For Microchip Technology Incorporated (NASDAQ: MCHP)

In the last trading session, 4.56 million shares of the Microchip Technology Incorporated (NASDAQ:MCHP) were traded, and its beta was 1.55. Most recently the company’s share price was $77.62, and it changed around -$1.57 or -1.98% from the last close, which brings the market valuation of the company to $42.75B. MCHP currently trades at a discount to its 52-week high of $87.76, offering almost -13.06% off that amount. The share price’s 52-week low was $54.33, which indicates that the current value has risen by an impressive 30.01% since then. We note from Microchip Technology Incorporated’s average daily trading volume that its 10-day average is 4.35 million shares, with the 3-month average coming to 4.60 million.

Microchip Technology Incorporated (NASDAQ:MCHP) trade information

Instantly MCHP has showed a red trend with a performance of -1.98% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 79.63 on Tuesday, 05/23/23 increased the stock’s daily price by 2.52%. The company’s shares are currently up 10.49% year-to-date, but still up 4.82% over the last five days. On the other hand, Microchip Technology Incorporated (NASDAQ:MCHP) is 0.45% up in the 30-day period. We can see from the shorts that 18.9 million shares have been sold at a short interest cover period of 4.75 day(s).

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Microchip Technology Incorporated (MCHP) estimates and forecasts

Microchip Technology Incorporated share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 4.65 percent over the past six months and at a 3.16% annual growth rate that is well above the industry average of -4.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 19.70% in revenue this quarter, and will report an increase of 11.00% in the next quarter. The year-over-year growth rate is expected to be 5.70%, up from the previous year.

Consensus estimates provided by 18 financial analysts predict the company will bring in an average of $2.29 billion in revenue for the current quarter. 18 analysts expect Microchip Technology Incorporated to make $2.28 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.96 billion and $2.06 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 16.60%. Forecasts for the next quarter put sales growth at 10.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 44.30%. Microchip Technology Incorporated earnings are expected to increase by 251.90% in 2023, but the outlook is positive 13.80% per year for the next five years.

MCHP Dividends

Microchip Technology Incorporated’s next quarterly earnings report is expected to be released around July 31 and August 04. The annual dividend yield of the stock is 1.97 percent and its annual dividend per share was 1.53. It is important to note, however, that the 1.97% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Microchip Technology Incorporated (NASDAQ:MCHP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.09% of Microchip Technology Incorporated shares, and 92.73% of them are in the hands of institutional investors. The stock currently has a share float of 94.71%. Microchip Technology Incorporated stock is held by 1,499 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 12.07% of the shares, which is about 66.1 million shares worth $5.13 billion.

Blackrock Inc., with 7.95% or 43.55 million shares worth $3.38 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Dodge & Cox Stock Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 16.71 million shares worth $1.3 billion, making up 3.05% of all outstanding shares. On the other hand, Dodge & Cox Stock Fund held roughly 14.91 million shares worth around $1.16 billion, which represents about 2.72% of the total shares outstanding.

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