A number of firms have modified their ratings and price targets on shares of Microchip Technology (NASDAQ: MCHP) recently:

  • 9/30/2017 – Microchip Technology was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/28/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $94.00 price target on the stock.
  • 9/20/2017 – Microchip Technology had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $94.00 price target on the stock.
  • 9/19/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $120.00 price target on the stock.
  • 9/8/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $120.00 price target on the stock.
  • 8/9/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $120.00 price target on the stock.
  • 8/9/2017 – Microchip Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/9/2017 – Microchip Technology had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $84.00 price target on the stock, up previously from $80.00.
  • 8/4/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $120.00 price target on the stock.
  • 8/4/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $120.00 price target on the stock, up previously from $100.00. They wrote, “Microchip saw growth in all business segments, across all geographies, and all end markets. Importantly, the company is raising its organic business growth target to 7%-9%, up from the mid-single digits due to tight supply in the market and, we believe, further leverage via the consolidation of Atmel’s business creating a strong pricing environment(MCHP a total system solution provider, ATML had poor pricing discipline, consolidated industry has better pricing discipline). Furthermore we see its unsupported backlog increasing as demand cannot be filled enough. Lead times are expected to remain extended until F1Q19. Not due to double ordering.””
  • 8/4/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $94.00 price target on the stock, up previously from $92.00.
  • 8/4/2017 – Microchip Technology had its “buy” rating reaffirmed by analysts at Credit Suisse Group.

Microchip Technology Incorporated (MCHP) traded up 0.19% during midday trading on Tuesday, reaching $90.72. 1,720,884 shares of the company’s stock traded hands. The firm’s 50-day moving average is $86.55 and its 200-day moving average is $80.69. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 48.88 and a beta of 1.07. Microchip Technology Incorporated has a 1-year low of $57.52 and a 1-year high of $91.83.

Microchip Technology (NASDAQ:MCHP) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.17. Microchip Technology had a return on equity of 34.33% and a net margin of 12.53%. The company had revenue of $972.10 million for the quarter, compared to the consensus estimate of $944.87 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. Analysts forecast that Microchip Technology Incorporated will post $5.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st were paid a dividend of $0.362 per share. This represents a $1.45 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, August 17th. This is a positive change from Microchip Technology’s previous quarterly dividend of $0.36. Microchip Technology’s dividend payout ratio (DPR) is 77.54%.

In other Microchip Technology news, Director Wade F. Meyercord sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $83.95, for a total transaction of $109,135.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 2,453 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $81.89, for a total value of $200,876.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,829 shares of company stock valued at $561,905. 2.13% of the stock is currently owned by insiders.

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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