Microchip Technology (MCHP) Receiving Positive Media Coverage, Study Finds
News headlines about Microchip Technology (NASDAQ:MCHP) have trended positive this week, according to Accern Sentiment. The research group identifies positive and negative news coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Microchip Technology earned a media sentiment score of 0.28 on Accern’s scale. Accern also assigned press coverage about the semiconductor company an impact score of 45.522914081545 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news stories that may have impacted Accern’s scoring:
- Analysts Expect Microchip Technology Incorporated (NASDAQ:MCHP) to Post $1.27 EPS (americanbankingnews.com)
- Microchip Technology Inc (NASDAQ:MCHP) Institutional Investor Sentiment Is 0.91 (vothemes.com)
- BidaskClub Upgrades Microchip Technology Incorporated (NASDAQ:MCHP) to Strong-Buy (expressnewsline.com)
- Microchip Technology Incorporated (NASDAQ:MCHP) Position Reduced by Tdam USA Inc (famososartistas.com)
- Microchip Technology Inc. (MCHP) — Recommendation Trends (campdesrecrues.com)
Several analysts have recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $90.00 target price on shares of Microchip Technology in a report on Monday, May 8th. BidaskClub upgraded shares of Microchip Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 target price (up previously from $92.00) on shares of Microchip Technology in a report on Friday, August 4th. Mizuho reiterated a “neutral” rating and issued a $84.00 target price (up previously from $80.00) on shares of Microchip Technology in a report on Wednesday. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Microchip Technology in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.80.
Microchip Technology (NASDAQ:MCHP) traded down 2.82% during mid-day trading on Thursday, reaching $81.24. 2,287,035 shares of the company were exchanged. The company has a market capitalization of $18.91 billion, a PE ratio of 43.77 and a beta of 1.06. The stock has a 50-day moving average price of $80.45 and a 200 day moving average price of $76.68. Microchip Technology has a one year low of $57.52 and a one year high of $87.49.
Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.17. The business 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%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Analysts predict that Microchip Technology will post $5.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.362 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $1.45 annualized dividend and a yield of 1.78%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio is currently 77.54%.
In other news, CFO James Eric Bjornholt sold 2,510 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $201,527.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen V. Drehobl sold 3,974 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.29, for a total transaction of $319,072.46. Following the sale, the vice president now directly owns 14,263 shares of the company’s stock, valued at approximately $1,145,176.27. The disclosure for this sale can be found here. 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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