Share on StockTwits

Microchip Technology (NASDAQ:MCHP) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the stock, AR Network reports. Five research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.70.

MCHP has been the subject of a number of recent research reports. Analysts at Needham & Company LLC raised their price target on shares of Microchip Technology from $55.00 to $57.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs downgraded shares of Microchip Technology from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Microchip Technology in a research note on Thursday, May 8th. They now have a $49.00 price target on the stock.

Microchip Technology (NASDAQ:MCHP) traded up 2.07% during mid-day trading on Friday, hitting $45.95. 613,272 shares of the company’s stock traded hands. Microchip Technology has a 52-week low of $38.44 and a 52-week high of $50.04. The stock’s 50-day moving average is $48.50 and its 200-day moving average is $47.01. The company has a market cap of $9.203 billion and a price-to-earnings ratio of 24.74.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.01. The company had revenue of $531.30 million for the quarter, compared to the consensus estimate of $527.59 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that Microchip Technology will post $2.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.356 per share. This represents a $1.42 dividend on an annualized basis and a yield of 3.16%.

Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.