Microchip Technology (MCHP) Receiving Somewhat Positive Press Coverage, Analysis Shows

Press coverage about Microchip Technology (NASDAQ:MCHP) has trended somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Microchip Technology earned a news impact score of 0.18 on Accern’s scale. Accern also assigned press coverage about the semiconductor company an impact score of 45.1891344640318 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

These are some of the media headlines that may have effected Accern Sentiment Analysis’s scoring:

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A number of research analysts have recently commented on the company. BidaskClub downgraded Microchip Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, March 30th. Zacks Investment Research raised Microchip Technology from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Tuesday. ValuEngine cut Microchip Technology from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus reissued an “average” rating and issued a $112.00 target price on shares of Microchip Technology in a research report on Tuesday, March 6th. Finally, Argus reissued a “buy” rating and issued a $90.00 target price (up from $79.90) on shares of Microchip Technology in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $102.77.

Microchip Technology stock traded down $0.17 during mid-day trading on Wednesday, reaching $88.86. 639,514 shares of the company were exchanged, compared to its average volume of 3,231,950. Microchip Technology has a twelve month low of $71.40 and a twelve month high of $101.48. 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 stock has a market capitalization of $20,535.49, a price-to-earnings ratio of 24.46, a PEG ratio of 1.09 and a beta of 1.06.

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

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.363 per share. This represents a $1.45 dividend on an annualized basis and a yield of 1.63%. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, February 20th. Microchip Technology’s dividend payout ratio (DPR) is presently 39.84%.

In other news, Director Wade F. Meyercord sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $94.92, for a total value of $474,600.00. Following the completion of the sale, the director now directly owns 29,469 shares of the company’s stock, valued at approximately $2,797,197.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Eric Bjornholt sold 2,109 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $84.18, for a total value of $177,535.62. The disclosure for this sale can be found here. Insiders sold a total of 33,667 shares of company stock valued at $3,132,552 over the last three months. Insiders own 2.13% of the company’s stock.

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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; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.

Insider Buying and Selling by Quarter for Microchip Technology (NASDAQ:MCHP)

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