News headlines about Microchip Technology (NASDAQ:MCHP) have been trending somewhat positive this week, InfoTrie Sentiment reports. The research group identifies negative and positive media coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores nearest to five being the most favorable. Microchip Technology earned a news impact score of 1.86 on their scale. InfoTrie also gave news stories about the semiconductor company an news buzz score of 10 out of 10, indicating that recent media coverage is extremely likely to have an effect on the stock’s share price in the near term.
These are some of the news headlines that may have effected Microchip Technology’s score:
- ONE WEEK DEADLINE REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Microchip Technology Incorporated and Encourages Investors with Losses in … (businesswire.com)
- ONE WEEK DEADLINE REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Microchip Technology Incorporated and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm (finance.yahoo.com)
- Microchip Technology (MCHP) Announces Earnings Results (americanbankingnews.com)
- Microchip Technology (MCHP) Receives “Buy” Rating from Needham & Company LLC (americanbankingnews.com)
- Microchip (MCHP) Q2 Earnings Surpass Estimates, Rise Y/Y (finance.yahoo.com)
A number of equities analysts have issued reports on MCHP shares. Nomura started coverage on Microchip Technology in a report on Wednesday, July 18th. They issued a “buy” rating and a $110.00 target price for the company. BidaskClub cut Microchip Technology from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Piper Jaffray Companies upped their target price on Microchip Technology from $110.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research cut Microchip Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, KeyCorp lowered their target price on Microchip Technology from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Microchip Technology presently has a consensus rating of “Hold” and an average price target of $105.11.
Shares of MCHP stock traded down $2.32 on Friday, hitting $72.13. The company had a trading volume of 4,358,351 shares, compared to its average volume of 3,222,203. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.77 and a beta of 1.24. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 1.96. Microchip Technology has a twelve month low of $60.70 and a twelve month high of $104.20.
Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Microchip Technology had a return on equity of 36.33% and a net margin of 2.85%. The business’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Sell-side analysts forecast that Microchip Technology will post 6.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be paid a $0.3645 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, November 20th. This represents a $1.46 annualized dividend and a dividend yield of 2.02%. Microchip Technology’s dividend payout ratio is presently 28.13%.
In other Microchip Technology news, COO Ganesh Moorthy bought 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $84.10 per share, for a total transaction of $1,009,200.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO James Eric Bjornholt sold 1,887 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $84.33, for a total value of $159,130.71. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.
About Microchip Technology
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.
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