Microchip Technology, Inc (NASDAQ:MCHP)’s traded shares stood at 2.48 million during the latest session, with the company’s beta value hitting 1.48. At the last check today, the stock’s price was $59.97, to imply a decrease of -2.71% or -$1.67 in intraday trading. The MCHP share’s 52-week high remains $100.57, putting it -67.7% down since that peak but still an impressive -1.83% since price per share fell to its 52-week low of $61.07. The company has a valuation of $32.20B, with an average of 8.33 million shares in intraday trading volume over the past 10 days and average of 6.46 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Microchip Technology, Inc (MCHP), translating to a mean rating of 1.64. Of 14 analyst(s) looking at the stock, 0 analyst(s) give MCHP a Sell rating. 1 of those analysts rate the stock as Overweight while 5 advise Hold as 8 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.29.
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Microchip Technology, Inc (NASDAQ:MCHP) trade information
After registering a -2.71% downside in the latest session, Microchip Technology, Inc (MCHP) has traded red over the past five days. The 5-day price performance for the stock is -11.64%, and -20.14% over 30 days. With these gigs, the year-to-date price performance is -33.50%. Short interest in Microchip Technology, Inc (NASDAQ:MCHP) saw shorts transact 30.77 million shares and set a 5.01 days time to cover.
The extremes give us $71 and $95 for target low and target high price respectively. As such, MCHP has been trading -58.41% off suggested target high and -18.39% from its likely low.
Microchip Technology, Inc (MCHP) estimates and forecasts
Looking at statistics comparing Microchip Technology, Inc share performance against respective industry, we note that the company has underperformed competitors. Microchip Technology, Inc (MCHP) shares are -35.76% down over the last 6 months, with its year-to-date growth rate lower than industry average at -67.48% against -4.80%. The rating firms project that company’s revenue will shrink -40.38% compared to the previous financial year.
Revenue forecast for the current quarter as set by 19 analysts is 1.05B. Meanwhile, for the current quarter, a total of 19 analyst(s) estimate revenue growth to 1.08B.Earnings reports from the last fiscal year show that sales brought in 1.77B and 1.33B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -40.27% before dropping -18.34% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 37.42% for the past 5-year period. While 2024 is set for a -67.47% return in earnings, projections for the next 5 years are at 20.00% annually.
MCHP Dividends
Microchip Technology, Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Microchip Technology, Inc has a forward dividend ratio of 1.81, with the share yield ticking at 3.02% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 1.54%.
Microchip Technology, Inc (NASDAQ:MCHP)’s Major holders
Microchip Technology, Inc insiders hold 2.11% of total outstanding shares, with institutional holders owning 97.78% of the shares at 99.88% float percentage. In total, 97.78% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 68.03 million shares (or 12.6231% of shares), all amounting to roughly $6.22 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 45.69 million shares, or about 8.4782% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $4.18 billion.
