Somewhat Positive Press Coverage Somewhat Unlikely to Affect Microchip Technology (NASDAQ:MCHP) Share Price

Media stories about Microchip Technology (NASDAQ:MCHP) have been trending somewhat positive on Tuesday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty 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 media sentiment score of 0.22 on Accern’s scale. Accern also assigned press coverage about the semiconductor company an impact score of 46.7565292382753 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.

These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:

Microchip Technology (NASDAQ:MCHP) opened at $86.30 on Tuesday. The stock has a market capitalization of $20,080.00, a PE ratio of 18.43, a PEG ratio of 1.39 and a beta of 0.99. 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 fifty-two week low of $62.21 and a fifty-two week high of $95.92.

Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Monday, November 6th. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. Microchip Technology had a return on equity of 35.48% and a net margin of 16.23%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. Microchip Technology’s quarterly revenue was up 16.2% compared to the same quarter last year. sell-side analysts expect that Microchip Technology will post 5.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.3625 per share. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. This represents a $1.45 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, November 20th. Microchip Technology’s payout ratio is 58.00%.

Several research firms have recently issued reports on MCHP. ValuEngine lowered Microchip Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Friday, November 10th. Jefferies Group raised their price target on Microchip Technology from $106.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. B. Riley reissued a “buy” rating and set a $123.00 price target (up from $120.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $110.00 price target (up from $95.00) on shares of Microchip Technology in a research note on Tuesday, November 7th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Microchip Technology presently has an average rating of “Buy” and an average price target of $99.41.

In other news, VP Stephen V. Drehobl sold 2,852 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,445,203.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 1,801 shares of the stock in a transaction that occurred 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. 2.13% of the stock is currently owned by 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.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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