In today’s recent session, 1.52 million shares of the Microchip Technology, Inc (NASDAQ:MCHP) have been traded, and its beta is 1.46. Most recently the company’s share price was $40.02, and it changed around $1.31 or 3.38% from the last close, which brings the market valuation of the company to $21.52B. MCHP at last check was trading at a discount to its 52-week high of $100.57, offering almost -151.3% off that amount. The share price’s 52-week low was $34.12, which indicates that the recent value has risen by an impressive 14.74% since then. We note from Microchip Technology, Inc’s average daily trading volume that its 10-day average is 20.33 million shares, with the 3-month average coming to 11.90 million.
Microchip Technology, Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.73. If we narrow it down even further, the data shows that 0 out of 25 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 6 recommended MCHP as a Hold, whereas 14 deemed it a Buy, and 1 rated it as Underweight. Microchip Technology, Inc is expected to report earnings per share of 0.1 for the current quarter.
Microchip Technology, Inc (NASDAQ:MCHP) trade information
Instantly MCHP has been showing a green trend so far today with a performance of 3.38% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 45.58 on recent trading dayincreased the stock’s daily price by 12.2%. The company’s shares are currently down -30.22% year-to-date, but still up 5.07% over the last five days. On the other hand, Microchip Technology, Inc (NASDAQ:MCHP) is -25.20% down in the 30-day period. We can see from the shorts that 31.24 million shares have been sold at a short interest cover period of 2.87 day(s).
The consensus price target as assigned by Wall Street analysts is $85, which translates to bulls needing to increase their stock price by 52.92% from its current value. Analyst projections state that MCHP is forecast to be at a low of $58 and a high of $95.
Microchip Technology, Inc (MCHP) estimates and forecasts
The year-over-year growth rate is expected to be -42.31%, down from the previous year.
Consensus estimates provided by 19 financial analysts predict the company will bring in an average of 960.76M in revenue for the current quarter. 18 analysts expect Microchip Technology, Inc to make 994.22M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.33B and 1.24B respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -27.53%. Forecasts for the next quarter put sales growth at -19.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 37.42%. Microchip Technology, Inc earnings are expected to increase by -73.62% in 2025, but the outlook is negative -20.13% per year for the next five years.
MCHP Dividends
Microchip Technology, Inc’s next quarterly earnings report is expected to be released on 2025-Feb-05. The annual dividend yield of the stock is 4.54 percent and its annual dividend per share was 1.82. It is important to note, however, that the 4.54% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.65 per year.
Microchip Technology, Inc (NASDAQ:MCHP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.10% of Microchip Technology, Inc shares, and 99.76% of them are in the hands of institutional investors. The stock currently has a share float of 101.90%. Microchip Technology, Inc stock is held by 1540.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 12.6231% of the shares, which is about 68.03 million shares worth $6.22 billion.
BLACKROCK INC., with 8.513% or 45.69 million shares worth $4.18 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and VANGUARD INDEX FUNDS-Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 31, 2024 . The former held 16.81 shares worth $673.56 million, making up 3.13% of all outstanding shares. On the other hand, VANGUARD INDEX FUNDS-Vanguard 500 Index Fund held roughly 14.54 shares worth around $582.47 million, which represents about 2.70% of the total shares outstanding.
