Microchip Technology (MCHP) Getting Somewhat Favorable News Coverage, Study Shows
Media stories about Microchip Technology (NASDAQ:MCHP) have trended somewhat positive this week, Accern Sentiment reports. The research firm identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Microchip Technology earned a coverage optimism score of 0.21 on Accern’s scale. Accern also assigned media stories about the semiconductor company an impact score of 45.7949145785321 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the media stories that may have effected Accern Sentiment’s rankings:
- $1.00 Billion in Sales Expected for Microchip Technology Incorporated (MCHP) This Quarter (americanbankingnews.com)
- Microchip Technology Incorporated (MCHP) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Which Analysts Are Watching Microchip Technology Incorporated (NASDAQ:MCHP)? (currenthollywood.com)
- Most Recent Stock Report:: Microchip Technology Incorporated (MCHP) (fishinghd.com)
- Microchip Technology Incorporat (MCHP) Ownership Increased by Rnc Capital Management LLC (iphonefresh.com)
Microchip Technology (NASDAQ MCHP) opened at 85.68 on Thursday. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 46.16 and a beta of 1.06. The stock has a 50 day moving average price of $81.68 and a 200-day moving average price of $77.85. Microchip Technology has a 1-year low of $57.52 and a 1-year high of $87.49.
Microchip Technology (NASDAQ:MCHP) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. The company had revenue of $972.10 million for the quarter, compared to analysts’ expectations of $944.87 million. Microchip Technology had a net margin of 12.53% and a return on equity of 34.33%. Microchip Technology’s revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. Equities analysts predict that Microchip Technology will post $5.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 21st will be paid a dividend of $0.362 per share. This is a boost 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 1.69%. The ex-dividend date of this dividend is Thursday, August 17th. Microchip Technology’s dividend payout ratio is presently 77.54%.
A number of analysts have weighed in on MCHP shares. B. Riley reaffirmed a “buy” rating and issued a $90.00 price target on shares of Microchip Technology in a research report on Monday, May 8th. Citigroup Inc. set a $95.00 price target on Microchip Technology and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Stifel Nicolaus boosted their price target on Microchip Technology from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $102.00 price target (up previously from $100.00) on shares of Microchip Technology in a research report on Tuesday, June 6th. Finally, BidaskClub cut Microchip Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $88.80.
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In related news, VP Stephen V. Drehobl sold 3,076 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 14,263 shares in the company, valued at approximately $1,167,997.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $81.89, for a total transaction of $200,876.17. The disclosure for this sale can be found here. Insiders have sold a total of 6,829 shares of company stock worth $561,905 over the last 90 days. 2.13% of the stock is currently owned by corporate insiders.
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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