Microchip Technology Incorporated (MCHP) – Don’t Believe the Hype: Check The Facts

1,105 institutions hold shares in Microchip Technology Incorporated (MCHP), with 5.55M shares held by insiders accounting for 2.06% while institutional investors hold 98.39% of the company’s shares. The shares outstanding are 269.26M, and float is at 263.74M with Short Float at 2.39%. Institutions hold 96.36% of the Float.

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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 29.71 million shares valued at $4.1 billion. The investor’s holdings represent 11.03% of the MCHP Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 20.22 million shares valued at $2.79 billion to account for 7.51% of the shares outstanding. The other top investors are Dodge & Cox Inc which holds 18.28 million shares representing 6.79% and valued at over $2.52 billion, while Price (T.Rowe) Associates Inc holds 4.83% of the shares totaling 12.99 million with a market value of $1.79 billion.

Microchip Technology Incorporated (NASDAQ: MCHP) is 12.18% higher on its value in year-to-date trading and has touched a low of $53.15 and a high of $166.67 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MCHP stock was last observed hovering at around $155.19 in the last trading session, with the day’s loss setting it -0.26% off its average median price target of $165.00 for the next 12 months. It is also 22.53% off the consensus price target high of $200.00 offered by 24 analysts, but current levels are -6.85% lower than the price target low of $145.00 for the same period.

Currently trading at $154.93, the stock is 3.64% and 6.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.35 million and changing -0.17% at the moment leaves the stock 32.46% off its SMA200. MCHP registered 54.73% gain for a year compared to 6-month gain of 43.55%. The firm has a 50-day simple moving average (SMA 50) of $149.30 and a 200-day simple moving average (SMA200) of $125.07.

The stock witnessed a 3.20% loss in the last 1 month and extending the period to 3 months gives it a 21.50%, and is -4.51% down 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 4.15% over the week and 3.75% over the month.

Microchip Technology Incorporated (MCHP) has around 18000 employees, a market worth around $40.22B and $5.30B in sales. Current P/E ratio is 121.61 and Fwd P/E is 20.68. Profit margin for the company is 6.30%. Distance from 52-week low is 191.50% and -7.04% 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 $1.74 with sales reaching $1.45B over the same period.The EPS is expected to grow by 50.80% this year, but quarterly earnings will post 2.90% year-over-year. Quarterly sales are estimated to grow 9.60% in year-over-year returns.

Microchip Technology Incorporated (MCHP) Insider Activity

A total of 114 insider transactions have happened at Microchip Technology Incorporated (MCHP) in the last six months, with sales accounting for 61 and purchases happening 53 times. The most recent transaction is an insider sale by CHAPMAN MATTHEW W, the company’s Director. SEC filings show that CHAPMAN MATTHEW W sold 500 shares of the company’s common stock on Feb 22 at a price of $159.20 per share for a total of $79600.0. Following the sale, the insider now owns 18856.0 shares.

Microchip Technology Incorporated disclosed in a document filed with the SEC on Feb 22 that LITTLE MITCHELL R (Senior VP, WW Client Engagemnt) sold a total of 2,342 shares of the company’s common stock. The trade occurred on Feb 22 and was made at $159.20 per share for $0.37 million. Following the transaction, the insider now directly holds 8710.0 shares of the MCHP stock.

Still, SEC filings show that on Feb 22, SIMONCIC RICHARD J (Senior VP, Analog/Intrfce BU) disposed off 2,795 shares at an average price of $159.20 for $0.44 million. The insider now directly holds 51,100 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 34.37% up over the past 12 months. Texas Instruments Incorporated (TXN) is 42.33% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.9% from the last report on Dec 30, 2020 to stand at a total of 6.18 million short shares sold with a short interest ratio of 3.28.

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