Microchip Technology (MCHP) PT Lowered to $102.00

Share on StockTwits

Microchip Technology (NASDAQ:MCHP) had its price target dropped by equities research analysts at Jefferies Financial Group from $115.00 to $102.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 41.41% from the company’s current price.

Several other research analysts have also weighed in on the company. Bank of America lowered Microchip Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $115.00 to $95.00 in a research report on Monday, September 17th. Morgan Stanley lowered their price objective on Microchip Technology from $98.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 3rd. ValuEngine lowered Microchip Technology from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. Raymond James lowered Microchip Technology from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a research report on Tuesday, September 25th. Finally, Cfra reissued a “buy” rating and issued a $110.00 price objective on shares of Microchip Technology in a research report on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $105.11.

Shares of NASDAQ:MCHP opened at $72.13 on Thursday. Microchip Technology has a 12-month low of $60.70 and a 12-month high of $104.20. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market cap of $16.56 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.77 and a beta of 1.24.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.03. Microchip Technology had a return on equity of 37.96% and a net margin of 0.59%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 49.5% on a year-over-year basis. Analysts expect that Microchip Technology will post 6.36 earnings per share for the current fiscal year.

In other news, COO Ganesh Moorthy bought 12,000 shares of Microchip Technology stock in a transaction dated Tuesday, August 14th. The stock was bought at an average cost of $84.10 per share, for a total transaction of $1,009,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Eric Bjornholt sold 1,887 shares of the firm’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. Company insiders own 2.13% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MCHP. Truvestments Capital LLC acquired a new position in Microchip Technology during the 3rd quarter valued at about $116,000. Psagot Investment House Ltd. acquired a new position in Microchip Technology during the 2nd quarter valued at about $125,000. Canada Pension Plan Investment Board boosted its stake in Microchip Technology by 14,030.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,413 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 1,403 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in Microchip Technology by 95.2% during the 3rd quarter. Spirit of America Management Corp NY now owns 2,050 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in Microchip Technology during the 2nd quarter valued at about $200,000.

Microchip Technology Company Profile

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.

Read More: Should I follow buy, hold and sell recommendations?

Analyst Recommendations for Microchip Technology (NASDAQ:MCHP)

Receive News & Ratings for Microchip Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microchip Technology and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.