Microchip Technology, Inc. (NASDAQ:MCHP) has a beta value of 1.52 and has seen 0.73 million shares traded in the recent trading session. The company, currently valued at $41.55B, closed the recent trade at $77.44 per share which meant it gained $2.21 on the day or 2.94% during that session. The MCHP stock price is -29.87% off its 52-week high price of $100.57 and 11.22% above the 52-week low of $68.75. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.85 million shares traded. The 3-month trading volume is 6.60 million shares.
The consensus among analysts is that Microchip Technology, Inc. (MCHP) is Buy stock at the moment, with a recommendation rating of 1.74. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 5 out of 14 have rated it as a Hold, with 8 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.43.
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Microchip Technology, Inc. (NASDAQ:MCHP) trade information
Sporting 2.94% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the MCHP stock price touched $77.44 or saw a rise of 2.25%. Year-to-date, Microchip Technology, Inc. shares have moved -14.13%, while the 5-day performance has seen it change -0.96%. Over the past 30 days, the shares of Microchip Technology, Inc. (NASDAQ:MCHP) have changed 0.57%. Short interest in the company has seen 26.78 million shares shorted with days to cover at 4.09.
Wall Street analysts have a consensus price target for the stock at $91, which means that the shares’ value could jump 14.9% from the levels at last check today. The projected low price target is $61.0 while the price target rests at a high of $115.0. In that case, then, we find that the latest price level in today’s session is -48.5% off the targeted high while a plunge would see the stock lose 21.23% from the levels at last check today.
Microchip Technology, Inc. (MCHP) estimates and forecasts
Figures show that Microchip Technology, Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -8.97% over the past 6 months, with this year growth rate of -59.15%, compared to -26.00% for the industry. Revenue growth from the last financial year stood is estimated to be -36.00%.
19 analysts offering their estimates for the company have set an average revenue estimate of 1.15B for the current quarter. 19 have an estimated revenue figure of 1.2B for the next ending quarter.
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 37.42% over the past 5 years. Earnings growth for 2024 is a modest -59.37% while over the next 5 years, the company’s earnings are expected to increase by 8.31%.
MCHP Dividends
Microchip Technology, Inc. is expected to release its next earnings report on 2024-Nov-05 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.80 at a share yield of 2.32%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 1.5%.
Microchip Technology, Inc. (NASDAQ:MCHP)’s Major holders
Insiders own 2.11% of the company shares, while shares held by institutions stand at 97.06% with a share float percentage of 99.15%. Investors are also buoyed by the number of investors in a company, with Microchip Technology, Inc. having a total of 1677.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 68.03 million shares worth more than $6.22 billion. As of 2024-06-30, VANGUARD GROUP INC held 12.6231% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 45.69 million shares as of 2024-06-30. The firm’s total holdings are worth over $4.18 billion and represent 8.4782% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. As of Jun 30, 2024, the former fund manager holds about 3.16% shares in the company for having 16.97 shares of worth $1.31 billion while later fund manager owns 13.87 shares of worth $1.07 billion as of Jun 30, 2024, which makes it owner of about 2.59% of company’s outstanding stock.
