Microchip Technology (NASDAQ: MCHP) has recently received a number of price target changes and ratings updates:

  • 2/9/2018 – Microchip Technology had its “buy” rating reaffirmed by analysts at Argus. They now have a $90.00 price target on the stock, up previously from $79.90.
  • 2/7/2018 – Microchip Technology had its price target lowered by analysts at Morgan Stanley from $99.00 to $96.00. They now have an “equal weight” rating on the stock.
  • 2/7/2018 – Microchip Technology had its price target lowered by analysts at Bank of America Corp from $120.00 to $110.00. They now have a “buy” rating on the stock.
  • 1/26/2018 – Microchip Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 1/9/2018 – Microchip Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Microchip develops and manufacturers microcontrollers, memory and analog and interface products for embedded control systems. Microchip is benefiting from robust demand for 8-bit, 16-bit and 32-bit microcontrollers. We believe that Microchip's expanding product portfolio driven by new launches will continue to expand customer base. Moreover, acquisitions like that of Atmel are likely to expand its geographical presence, augment customer base, extend product portfolio and supplement operational excellence. Notably, shares of the company has outperformed the industry over the past one year. However, increasing lead time due to manufacturing constraints can impact gross margins. Additionally, given its extensive geographical foothold the company is continuously adversely impacted by exchange rate volatility while competition remains headwind.”
  • 1/5/2018 – Microchip Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Microchip develops and manufacturers microcontrollers, memory and analog and interface products for embedded control systems. Microchip is benefiting from robust demand for 8-bit, 16-bit and 32-bit microcontrollers. We believe that Microchip's expanding product portfolio driven by new launches will continue to expand customer base. Moreover, acquisitions like that of Atmel are likely to expand its geographical presence, augment customer base, extend product portfolio and supplement operational excellence. Notably, shares of the company has outperformed the industry over the past one year. However, increasing lead time due to manufacturing constraints can impact gross margins. Additionally, given its extensive geographical foothold the company is continuously adversely impacted by exchange rate volatility while competition remains headwind.”
  • 1/3/2018 – Microchip Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Microchip develops and manufacturers microcontrollers, memory and analog and interface products for embedded control systems. Microchip is benefiting from robust demand for 8-bit, 16-bit and 32-bit microcontrollers. We believe that Microchip's expanding product portfolio driven by new launches will continue to expand customer base. Moreover, acquisitions like that of Atmel are likely to expand its geographical presence, augment customer base, extend product portfolio and supplement operational excellence. However, increasing lead time due to manufacturing constraints can impact gross margins. Additionally, given its extensive geographical foothold the company is continuously adversely impacted by exchange rate volatility while competition remains headwind.”
  • 12/18/2017 – Microchip Technology is now covered by analysts at Piper Jaffray Companies. They set an “overweight” rating and a $100.00 price target on the stock.

Shares of Microchip Technology Inc. (MCHP) opened at $81.75 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.33 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $18,991.17, a P/E ratio of 84.28, a P/E/G ratio of 1.08 and a beta of 1.05. Microchip Technology Inc. has a 52-week low of $70.18 and a 52-week high of $99.17.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.01. The company had revenue of $994.10 million during the quarter, compared to the consensus estimate of $992.10 million. Microchip Technology had a return on equity of 36.54% and a net margin of 6.33%. Microchip Technology’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the business posted $1.05 earnings per share. research analysts anticipate that Microchip Technology Inc. will post 5.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Wednesday, February 21st will be given a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 149.49%.

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,801 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $91.66, for a total value of $165,079.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen V. Drehobl sold 2,852 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,445,203.22. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

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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