Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating) – Investment analysts at Jefferies Financial Group lowered their 2024 EPS estimate for Microchip Technology stock in a research note published Thursday, October 13. Jefferies Financial Group analyst M. Lipasis now expects the semiconductor company to post full-year earnings per share of $3.75, down from an earlier forecast of $5.13. increase. Microchip Technology’s current consensus estimate for annual earnings is $5.42 per share. Jefferies Financial Group has released an estimate for Microchip Technology’s fiscal 2025 earnings of $4.82 per share.
Microchip Technology (NASDAQ:MCHP – Get Rating) announced its final quarterly results on Tuesday, August 2nd. The semiconductor company posted his earnings per share (EPS) of $1.30 for the quarter, $0.03 above analyst consensus expectations of $1.27. Microchip Technology’s net profit margin was 21.34% and return on equity was 44.90%. The company’s revenue for the quarter was $1.96 billion, compared to consensus expectations of $1.96 billion. During the same period last year, the company recorded his EPS of $0.88.
A few other analysts have also weighed in on the stock recently. Cowen raised his price target for Microchip Technology stock from his $60.00 to his $72.00, giving the company an “outperform” rating in a research report on Wednesday, Aug. 3. StockNews.com began covering his Microchip Technology stock in a research report on Wednesday, October 12th. They gave the stock a buy rating. Goldman Sachs Group Inc. lowered its price target on Microchip Technology shares to $61.00 from $76.00 in a research report on Friday, July 15. Cowen raised its price target for Microchip Technology stock from $60.00 to $72.00, giving the company an “outperform” rating in its research report on Wednesday, Aug. 3. Finally, Citigroup lowered its price target for Microchip Technology stock from $72.00 to $62.00 in its research report on Tuesday, October 11, giving the stock a “neutral” rating. Four equity research analysts gave the stock a hold rating, 17 assigned a buy rating, and one gave the company’s stock a strong buy rating. According to MarketBeat data, Microchip Technology’s current average rating is “moderate buy” with an average target price of $88.82.
Microchip technology deals drop 3.6%
Shares of Microchip Technology opened at $57.31 on Monday. The company has a 50-day moving average of $65.90 and a 200-day moving average of $65.66. The company has a debt to equity ratio of 1.27, a quick ratio of 1.17 and a current ratio of 1.78. Microchip Technology’s one year low is $54.33 and one year high is $90.00. The company has a market cap of $31.66 billion, a P/E ratio of 21.07, a PEG ratio of 0.75 and a beta of 1.56.
Microchip technology raises dividend
The company recently announced a quarterly dividend, which was paid out on Friday, September 2nd. A dividend of $0.301 per share was issued to shareholders of record on Friday, August 19. The ex-dividend date was Thursday, August 18. This represents his $1.20 dividend and his 2.10% dividend yield on an annual basis. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.28. Microchip Technology’s payout percentage is currently 44.12%.
Insider activity
In other news, Director Matthew W. Chapman sold 1,000 shares of the company in a transaction that took place on Tuesday, August 23rd. The shares sold for an average of $68.21, and the total transaction value he had was $68,210.00. After the sale, the directors now own 37,682 shares of the company, valued at $2,570,289.22. The transaction is disclosed in documents filed with the Securities and Exchange Commission and can be accessed via this hyperlink. In other Microchip Technology news, his director, Matthew W. Chapman, sold 1,000 shares of the company’s stock in a transaction that took place on Tuesday, August 23rd. The shares were sold at an average price of $68.21 for a total of $68,210.00. After the transaction, the directors now own 37,682 shares of the company’s stock, valued at approximately $2,570,289.22. The transaction was disclosed in documents filed with the SEC and can be accessed at this link. His CFO, James Eric Bjornholt, also sold 2,379 shares of the company in a deal that took place on Tuesday, August 23rd. The shares sold at an average price of $68.21 for a total transaction value of $162,271.59. Following the closing of the transaction, the Chief Financial Officer now owns 35,333 shares of the company’s stock valued at approximately $2,410,063.93. Please see here for the disclosure of this sale. His 2.00% of the shares are owned by company insiders.
institution inflow and outflow
Several large investors have increased or decreased their equity stakes recently. EdgeRock Capital LLC purchased new shares of Microchip Technology in the third quarter for approximately $181,000. Buttonwood Financial Advisors Inc. increased his position in Microchip Technology by 6.0% in the third quarter. Buttonwood Financial Advisors Inc. now owns 39,193 shares of the semiconductor company worth $2,330,000 after acquiring an additional 2,225 of his shares last quarter. Diversified Trust Co bought a new stake in his Microchip Technology worth about $207,000 in the third quarter. Gradient Investments LLC increased its position in Microchip Technology by 5.4% in the third quarter. Gradient Investments LLC now owns 220,357 shares of the semiconductor company valued at $13,448,000 after acquiring an additional 11,261 shares in the previous quarter. Finally, UMB Bank na increased its position in Microchip Technology by 0.9% in the third quarter. UMB Bank na now owns 25,153 shares of the semiconductor company valued at $1,535,000 after acquiring an additional 212 shares last quarter. Institutional investors and hedge funds own 89.81% of the company’s shares.
Microchip Technology Company Profile
(get rating)
Microchip Technology Incorporated develops, manufactures and markets smart, connected and secure embedded control solutions in the Americas, Europe and Asia. The company offers general purpose 8-bit, 16-bit and 32-bit microcontrollers. 32-bit embedded microprocessor market. We also have specialized microcontrollers for automotive, industrial, computing, communications, lighting, power, motor control, human machine interface, security, wired and wireless connectivity applications.
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