Microchip Technology Incorporated (NASDAQ:MCHP) has received a consensus rating of “Moderate Buy” from analysts

Shares of Microchip Technology Incorporated (NASDAQ:MCHP – Get Rating ) have received a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $84.10.

MCHP has been the subject of a number of analyst reports. Needham & Company LLC cut their target price on shares of Microchip Technology from $92.00 to $82.00 in a research report on Tuesday, October 25th. Wells Fargo & Company reduced their target price on shares of Microchip Technology from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. Morgan Stanley cut their target price on shares of Microchip Technology from $82.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. Stifel Nicolaus upped their target price on shares of Microchip Technology from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Finally, UBS Group cut their target price on shares of Microchip Technology from $100.00 to $90.00 in a research report on Friday, November 4th.

Shares of Microchip Technology fell 0.8%

Shares of Microchip Technology stock opened at $75.72 on Wednesday. The firm’s 50-day moving average is $73.75 and its 200-day moving average is $68.41. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 1.03. Microchip Technology has a 52-week low of $54.33 and a 52-week high of $80.50. The company has a market cap of $41.65 billion, a P/E ratio of 23.16, a PEG ratio of 0.80 and a beta of 1.59.

Microchip Technology (NASDAQ:MCHP – Get Rating ) last posted its quarterly earnings data on Thursday, November 3rd. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. Microchip Technology had a net margin of 24.14% and a return on equity of 47.90%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. On average, sell-side analysts forecast that Microchip Technology will post 5.66 EPS for the current fiscal year.

Microchip technology increases the dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd were given a $0.328 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.30. This represents a $1.31 annual dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, November 21st. Microchip Technology’s payout ratio is currently 40.06%.

Internal work at Microchip Technology

In related news, Director Carlton D. Johnson sold 927 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $64.54, for a total value of $59,828.58. Following the completion of the transaction, the director now directly owns 1,369 shares in the company, valued at approximately $88,355.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. Company insiders own 2.00% of the company’s shares.

Hedge funds weigh Microchip technology

Large investors have recently added to or reduced their stakes in the stock. Household Group Estate & Retirement Specialist LLC acquired a new position in Microchip Technology during the third quarter valued at $25,000. MV Capital Management Inc. raised its position in Microchip Technology by 157.1% during the third quarter. MV Capital Management Inc. now owns 432 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 264 shares during the period. Quent Capital LLC acquired a new position in Microchip Technology in the fourth quarter valued at $26,000 Almanack Investment Partners LLC. acquired a new position in Microchip Technology in the third quarter valued at $29,000. Finally, Glassman Wealth Services raised its position in Microchip Technology by 54.5% in the second quarter. Glassman Wealth Services now owns 516 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 182 shares during the period. 89.85% of the shares are currently owned by institutional investors and hedge funds.

About Microchip Technology

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Microchip Technology Incorporated develops, manufactures and markets intelligent, connected and secure embedded control solutions in the Americas, Europe and Asia. The company offers 8-bit, 16-bit, and 32-bit general-purpose microcontrollers; 32-bit Embedded Microprocessor Markets; and specialized microcontrollers for automotive, industrial, computer, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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Analyst Recommendations for Microchip Technologies (NASDAQ:MCHP)

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