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Microchip Technology, Inc. (MCHP) – key numbers that make it a Strong Buy For Now

Microchip Technology, Inc. (NASDAQ: MCHP) is -0.49% lower on its value in year-to-date trading and has touched a low of $68.75 and a high of $94.30 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MCHP stock was last observed hovering at around $89.71 in the last trading session, with the day’s gains setting it 0.03%.

Currently trading at $89.74, the stock is 1.19% and 3.79% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.02 million and changing 0.03% at the moment leaves the stock 7.03% off its SMA200. MCHP registered 10.97% gain for a year compared to 6-month gain of 14.16%. The firm has a 50-day simple moving average (SMA 50) of $6.31 and a 200-day simple moving average (SMA200) of $13.30.

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The stock witnessed a 6.66% loss in the last 1 month and extending the period to 3 months gives it a -1.21%, and is 1.93% 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 2.09% over the week and 2.79% over the month.

Microchip Technology, Inc. (MCHP) has around 22600 employees, a market worth around $48.49B and $8.54B in sales. Current P/E ratio is 20.97 and Fwd P/E is 29.50. Profit margin for the company is 27.59%. Distance from 52-week low is 30.53% and -4.84% from its 52-week high. The company has generated returns on investments over the last 12 months (21.20%).

Microchip Technology, Inc. quarterly earnings per share for the current quarter are estimated at $0.57 with sales reaching $1.33B over the same period.The EPS is expected to shrink by -18.15% this year, but quarterly earnings will post -9.20% year-over-year. Quarterly sales are estimated to shrink -40.40% in year-over-year returns.

Microchip Technology, Inc. (MCHP) Top Institutional Holders

1,644 institutions hold shares in Microchip Technology, Inc. (MCHP), with institutional investors hold 97.78% of the company’s shares. The shares outstanding are 545.46M, and float is at 528.99M with Short Float at 4.80%. Institutions hold 95.74% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 66.74 million shares valued at $5.98 billion. The investor’s holdings represent 12.26% of the MCHP Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 46.43 million shares valued at $4.16 billion to account for 8.53% of the shares outstanding. The other top investors are State Street Corporation which holds 24.22 million shares representing 4.45% and valued at over $2.17 billion, while T. Rowe Price Investment Management, Inc. holds 4.19% of the shares totaling 22.81 million with a market value of $2.04 billion.

Microchip Technology, Inc. (MCHP) Insider Activity

The most recent transaction is an insider sale by SANGHI STEVE,the company’sExecutive Chair. SEC filings show that SANGHI STEVE sold 36,443 shares of the company’s common stock on Mar 07 ’24 at a price of $93.10 per share for a total of $3.39 million. Following the sale, the insider now owns 10.09 million shares.

Microchip Technology, Inc. disclosed in a document filed with the SEC on Mar 06 ’24 that Johnson Karlton D (Director) sold a total of 92 shares of the company’s common stock. The trade occurred on Mar 06 ’24 and was made at $86.88 per share for $7993.0. Following the transaction, the insider now directly holds 1697.0 shares of the MCHP stock.

Still, SEC filings show that on Feb 23 ’24, Bjornholt James Eric (Senior VP and CFO) disposed off 1,970 shares at an average price of $83.90 for $0.17 million. The insider now directly holds 32,893 shares of Microchip Technology, Inc. (MCHP).

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