Microchip Technology (NASDAQ:MCHP) had its target price upped by Argus to $115.00 in a research note released on Monday morning, The Fly reports. Argus currently has an average rating on the semiconductor company’s stock. The analysts noted that the move was a valuation call.
MCHP has been the subject of a number of other research reports. BidaskClub downgraded shares of Microchip Technology from a buy rating to a hold rating in a research note on Wednesday, April 18th. Goldman Sachs Group raised shares of Microchip Technology from a neutral rating to a buy rating and lifted their target price for the stock from $95.57 to $108.00 in a research note on Thursday, March 8th. Stifel Nicolaus reissued an average rating and set a $112.00 target price on shares of Microchip Technology in a research note on Tuesday, March 6th. SunTrust Banks raised shares of Microchip Technology from a hold rating to a buy rating in a research note on Friday, March 2nd. Finally, Morgan Stanley lifted their target price on shares of Microchip Technology from $96.00 to $97.00 and gave the stock an equal weight rating in a research note on Wednesday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Microchip Technology presently has an average rating of Buy and a consensus price target of $112.85.
Microchip Technology opened at $93.24 on Monday, MarketBeat reports. The firm has a market cap of $22.78 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.13. Microchip Technology has a 52-week low of $75.80 and a 52-week high of $104.20. The company has a quick ratio of 1.43, a current ratio of 1.66 and a debt-to-equity ratio of 0.54.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.13. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $984.80 million. Microchip Technology had a net margin of 6.41% and a return on equity of 38.62%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. research analysts predict that Microchip Technology will post 6.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Monday, May 21st were issued a $0.3635 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.56%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, May 18th.
In other Microchip Technology news, CFO James Eric Bjornholt sold 2,308 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $93.55, for a total value of $215,913.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen V. Drehobl sold 4,696 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $93.55, for a total transaction of $439,310.80. Following the completion of the sale, the vice president now owns 19,711 shares of the company’s stock, valued at $1,843,964.05. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.
Large investors have recently bought and sold shares of the business. Signaturefd LLC acquired a new stake in Microchip Technology in the first quarter worth $131,000. Hyman Charles D acquired a new stake in Microchip Technology in the first quarter worth $201,000. Parametrica Management Ltd acquired a new stake in Microchip Technology in the first quarter worth $226,000. Miles Capital Inc. acquired a new stake in Microchip Technology in the first quarter worth $232,000. Finally, Laurel Wealth Advisors Inc. acquired a new stake in Microchip Technology in the fourth quarter worth $228,000.
Microchip Technology Company Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.