Microchip Technology Incorporated (NASDAQ: MCHP) has a price-to-earnings ratio that is above its average at 22.22x. and a 36-month beta value of 1.58. Opinions on the stock are mixed, with 17 analysts rating it as a “buy,” 0 as “overweight,” 10 as “hold,” and 0 as “sell.”
The average price predicted for Microchip Technology Incorporated (MCHP) by analysts is $97.70, which is $12.98 above the current market price. The public float for MCHP is 538.57M, and at present, short sellers hold a 3.40% of that float. On March 17, 2023, the average trading volume of MCHP was 4.73M shares.
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MCHP) stock’s latest price update
Microchip Technology Incorporated (NASDAQ: MCHP)’s stock price has increased by 2.16 compared to its previous closing price of 80.51. Despite this, the company has seen a fall of -1.21% in its stock price over the last five trading days. Barron’s reported on 06/27/22 that Insiders Snapped Up Microchip and Analog Devices as Chip Stocks Slid
MCHP’s Market Performance
MCHP’s stock has fallen by -1.21% in the past week, with a monthly drop of -3.10% and a quarterly rise of 6.25%. The volatility ratio for the week is 3.36% while the volatility levels for the last 30 days are 2.68% for Microchip Technology Incorporated The simple moving average for the last 20 days is 0.32% for MCHP stock, with a simple moving average of 17.62% for the last 200 days.
Analysts’ Opinion of MCHP
Many brokerage firms have already submitted their reports for MCHP stocks, with Credit Suisse repeating the rating for MCHP by listing it as a “Neutral.” The predicted price for MCHP in the upcoming period, according to Credit Suisse is $85 based on the research report published on November 16th of the previous year 2022.
Stifel, on the other hand, stated in their research note that they expect to see MCHP reach a price target of $75, previously predicting the price at $70. The rating they have provided for MCHP stocks is “Buy” according to the report published on June 28th, 2022.
Goldman gave a rating of “Neutral” to MCHP, setting the target price at $79 in the report published on March 28th of the previous year.
MCHP Trading at 3.57% from the 50-Day Moving Average
After a stumble in the market that brought MCHP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.28% of loss for the given period.
Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 3.36%, as shares sank -4.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.03% upper at present.
During the last 5 trading sessions, MCHP fell by -1.21%, which changed the moving average for the period of 200-days by +13.00% in comparison to the 20-day moving average, which settled at $81.80. In addition, Microchip Technology Incorporated saw 17.08% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MCHP starting from Bjornholt James Eric, who sale 2,777 shares at the price of $81.58 back on Feb 23. After this action, Bjornholt James Eric now owns 30,582 shares of Microchip Technology Incorporated, valued at $226,548 using the latest closing price.
Johnson Karlton D, the Director of Microchip Technology Incorporated, sale 396 shares at $81.00 during a trade that took place back on Feb 23, which means that Johnson Karlton D is holding 973 shares at $32,076 based on the most recent closing price.
Stock Fundamentals for MCHP
Current profitability levels for the company are sitting at:
- +27.55 for the present operating margin
- +51.72 for the gross margin
The net margin for Microchip Technology Incorporated stands at +18.85. Equity return is now at value 34.10, with 12.80 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.75.
Conclusion
To sum up, Microchip Technology Incorporated (MCHP) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
