Microchip Technology (MCHP) Getting Somewhat Favorable Media Coverage, Study Shows
Media stories about Microchip Technology (NASDAQ:MCHP) have trended somewhat positive on Monday, according to Accern Sentiment Analysis. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Microchip Technology earned a news sentiment score of 0.19 on Accern’s scale. Accern also gave media headlines about the semiconductor company an impact score of 45.9941924320027 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Technical Snapshots for Investors: Microchip Technology Incorporated (NASDAQ:MCHP) – Alpha Beta Stock (alphabetastock.com)
- Top Stock Picks for the Week of October 2nd – Nasdaq (nasdaq.com)
- Microchip Technology, United Continental and Zynerba Pharmaceuticals highlighted as Zacks Bull and Bear of the Day (finance.yahoo.com)
- Microchip Technology Incorporated (MCHP) Stock Rating Lowered by ValuEngine (americanbankingnews.com)
- Bull of the Day: Microchip Technology (MCHP) (finance.yahoo.com)
Several equities research analysts recently issued reports on the company. ValuEngine downgraded Microchip Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus reaffirmed a “buy” rating and set a $94.00 target price on shares of Microchip Technology in a research note on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $94.00 target price on shares of Microchip Technology in a research note on Wednesday, September 20th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Tuesday, September 19th. Finally, B. Riley reiterated a “buy” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Wednesday, August 9th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.44.
Shares of Microchip Technology (NASDAQ MCHP) traded up 0.86% during midday trading on Monday, reaching $90.55. 1,954,893 shares of the company were exchanged. The stock has a 50-day moving average price of $86.55 and a 200 day moving average price of $80.69. Microchip Technology has a 52-week low of $57.52 and a 52-week high of $91.83. The company has a market capitalization of $21.07 billion, a P/E ratio of 46.68 and a beta of 1.07.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.17. The firm had revenue of $972.10 million during the quarter, compared to the consensus estimate of $944.87 million. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The business’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 EPS. Equities research analysts expect that Microchip Technology will post $5.27 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st were issued a $0.362 dividend. The ex-dividend date was Thursday, August 17th. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.60%. Microchip Technology’s dividend payout ratio (DPR) is 77.54%.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,453 shares of Microchip Technology stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total value of $200,876.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Stephen V. Drehobl sold 3,076 shares of Microchip Technology stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $251,893.64. Following the completion of the sale, the vice president now owns 14,263 shares in the company, valued at $1,167,997.07. The disclosure for this sale can be found here. Insiders have sold 6,829 shares of company stock valued at $561,905 in the last 90 days. 2.13% of the stock is currently owned by corporate insiders.
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Microchip Technology Company Profile
Microchip Technology Incorporated is engaged in developing, manufacturing and selling specialized semiconductor products used by its customers for a range of embedded control applications. The Company operates through two segments: semiconductor products and technology licensing. In the semiconductor products segment, the Company designs, develops, manufactures and markets microcontrollers, development tools and analog, interface, mixed signal and timing products.
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