Microchip Technology (MCHP) Receiving Somewhat Positive News Coverage, Analysis Finds
Media coverage about Microchip Technology (NASDAQ:MCHP) has trended somewhat positive on Saturday, according to Accern. The research firm identifies positive and negative news coverage by monitoring more than 20 million blog and news 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 news sentiment score of 0.17 on Accern’s scale. Accern also assigned news stories about the semiconductor company an impact score of 46.6442258413234 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the media headlines that may have effected Accern’s scoring:
- Microchip Technology Incorporated (MCHP) Given Consensus Rating of “Buy” by Brokerages (americanbankingnews.com)
- Overwhelming Stock- Microchip Technology Incorporated (NASDAQ:MCHP) – The Stock Street (press release) (thestreetpoint.com)
- Optimistic Trending Companies: Akamai Technologies, Inc. (AKAM), Microchip Technology Incorporated (MCHP) – Market Movers (financialqz.com)
- Attaining Market Attention on Technical Facts: Microchip Technology Incorporated (NASDAQ:MCHP), NetEase, Inc … – Investing News Update (investingbizz.com)
- Spot trends and buy/sell signals: Ross Stores, Inc. (ROST), Microchip Technology Incorporated (MCHP) – Market Movers (financialqz.com)
A number of research analysts have recently weighed in on MCHP shares. Zacks Investment Research upgraded Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Friday, November 10th. Jefferies Group raised their target price on Microchip Technology from $106.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. J P Morgan Chase & Co restated an “overweight” rating and issued a $120.00 target price on shares of Microchip Technology in a report on Tuesday, November 7th. Morgan Stanley lowered Microchip Technology from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $110.00 price target (up from $95.00) on shares of Microchip Technology in a report on Tuesday, November 7th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Microchip Technology presently has a consensus rating of “Buy” and a consensus target price of $99.41.
Microchip Technology (NASDAQ:MCHP) traded up $0.02 during trading hours on Friday, reaching $87.41. The company’s stock had a trading volume of 1,843,757 shares, compared to its average volume of 1,984,403. The company has a quick ratio of 2.71, a current ratio of 3.33 and a debt-to-equity ratio of 0.85. Microchip Technology has a twelve month low of $62.21 and a twelve month high of $95.92. The stock has a market capitalization of $20,440.99, a P/E ratio of 18.51, a P/E/G ratio of 1.40 and a beta of 1.00.
Microchip Technology (NASDAQ:MCHP) last released its earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. analysts forecast that Microchip Technology will post 5.12 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st were given a $0.3625 dividend. 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 yield of 1.66%. The ex-dividend date was Monday, November 20th. Microchip Technology’s dividend payout ratio (DPR) is currently 58.00%.
In other Microchip Technology news, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $261,414.32. Following the completion of the sale, the vice president now directly owns 15,767 shares of the company’s stock, valued at $1,445,203.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James Eric Bjornholt sold 1,801 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $165,079.66. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
About Microchip Technology
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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