Microchip Technology Incorporated (MCHP) Is Up 3.45% in 2021 With Lots of Room to Run

Microchip Technology Incorporated (NASDAQ: MCHP) is 3.45% higher on its value in year-to-date trading and has touched a low of $53.15 and a high of $145.34 in the current 52-week trading range. The MCHP stock was last observed hovering at around $140.19 in the last trading session, with the day’s gains setting it 2.69% off its average median price target of $145.00 for the next 12 months. It is also 20.62% off the consensus price target high of $180.00 offered by 24 analysts, but current levels are -20.07% lower than the price target low of $119.00 for the same period.

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Currently trading at $142.88, the stock is 2.77% and 10.21% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.88 million and changing 1.92% at the moment leaves the stock 35.61% off its SMA200. MCHP registered 29.08% gain for a year compared to 6-month gain of 37.41%. The firm has a 50-day simple moving average (SMA 50) of $136.76 and a 200-day simple moving average (SMA200) of $114.06.

The stock witnessed a -0.94% loss in the last 1 month and extending the period to 3 months gives it a 34.17%, and is 5.71% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.88% over the week and 2.48% over the month.

Microchip Technology Incorporated (MCHP) has around 18000 employees, a market worth around $36.85B and $5.23B in sales. Current P/E ratio is 60.88 and Fwd P/E is 20.06. Profit margin for the company is 11.60%. Distance from 52-week low is 168.82% and -1.69% from its 52-week high. The company has generated returns on investments over the last 12 months (7.00%).

Microchip Technology Incorporated (MCHP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Microchip Technology Incorporated (MCHP) is a “Buy”. 24 analysts offering their recommendations for the stock have an average rating of 2.00, where 4 rate it as a Hold and 0 think it is a “Overweight”. 19 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Microchip Technology Incorporated is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $1.58 with sales reaching $1.36B over the same period.The EPS is expected to grow by 50.80% this year, but quarterly earnings will post 1.50% year-over-year. Quarterly sales are estimated to grow 5.50% in year-over-year returns.

Microchip Technology Incorporated (MCHP) Top Institutional Holders

1,105 institutions hold shares in Microchip Technology Incorporated (MCHP), with 5.37M shares held by insiders accounting for 2.06% while institutional investors hold 98.39% of the company’s shares. The shares outstanding are 256.00M, and float is at 255.01M with Short Float at 2.50%. Institutions hold 96.36% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 29.35 million shares valued at $3.02 billion. The investor’s holdings represent 11.27% of the MCHP Shares outstanding. As of Sep 29, 2020, the second largest holder is Dodge & Cox Inc with 20.75 million shares valued at $2.13 billion to account for 7.97% of the shares outstanding. The other top investors are Blackrock Inc. which holds 19.8 million shares representing 7.61% and valued at over $2.03 billion, while Price (T.Rowe) Associates Inc holds 5.04% of the shares totaling 13.13 million with a market value of $1.35 billion.

Microchip Technology Incorporated (MCHP) Insider Activity

A total of 142 insider transactions have happened at Microchip Technology Incorporated (MCHP) in the last six months, with sales accounting for 71 and purchases happening 71 times. The most recent transaction is an insider sale by LITTLE MITCHELL R, the company’s Senior VP, WW Client Engagemnt. SEC filings show that LITTLE MITCHELL R sold 2,398 shares of the company’s common stock on Nov 23 at a price of $130.70 per share for a total of $0.31 million. Following the sale, the insider now owns 8393.0 shares.

Microchip Technology Incorporated disclosed in a document filed with the SEC on Nov 23 that SIMONCIC RICHARD J (Senior VP, Analog/Intrfce BU) sold a total of 2,269 shares of the company’s common stock. The trade occurred on Nov 23 and was made at $130.70 per share for $0.3 million. Following the transaction, the insider now directly holds 51045.0 shares of the MCHP stock.

Still, SEC filings show that on Nov 23, CHAPMAN MATTHEW W (Director) disposed off 500 shares at an average price of $130.70 for $65350.0. The insider now directly holds 19,356 shares of Microchip Technology Incorporated (MCHP).

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Microchip Technology Incorporated (MCHP): Who are the competitors?

The company’s main competitors (and peers) include Analog Devices Inc. (ADI) that is trading 24.85% up over the past 12 months. Texas Instruments Incorporated (TXN) is 26.90% up on the 1-year trading charts. Short interest in the company’s stock has fallen -89.8% from the last report on Nov 12, 2020 to stand at a total of 12.09 million short shares sold with a short interest ratio of 3.35.

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