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Microchip Technology, Inc. (MCHP) Stock Could Soon Reward Patient Investors

Microchip Technology, Inc. (NASDAQ: MCHP) is 2.62% higher on its value in year-to-date trading and has touched a low of $68.75 and a high of $96.14 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 $91.50 in the last trading session, with the day’s gains setting it 1.04%.

Currently trading at $92.54, the stock is 3.72% and 4.18% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.39 million and changing 1.14% at the moment leaves the stock 10.14% off its SMA200. MCHP registered 26.51% gain for a year compared to 6-month gain of 25.56%.

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The stock witnessed a 8.06% loss in the last 1 month and extending the period to 3 months gives it a 10.23%, and is -1.30% 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 2.32% over the week and 2.76% over the month.

Microchip Technology, Inc. (MCHP) has around 22600 employees, a market worth around $50.01B and $7.63B in sales. Current P/E ratio is 26.67 and Fwd P/E is 21.97. Profit margin for the company is 24.98%. Distance from 52-week low is 34.60% and -3.74% from its 52-week high. The company has generated returns on investments over the last 12 months (16.36%).

The EPS is expected to shrink by -46.38% this year.

Microchip Technology, Inc. (MCHP) Top Institutional Holders

The shares outstanding are 545.46M, and float is at 529.00M with Short Float at 5.39%.

Microchip Technology, Inc. (MCHP) Insider Activity

The most recent transaction is an insider sale by DREHOBL STEPHEN V,the company’sSenior VP, MCU8/MCU16 BU. SEC filings show that DREHOBL STEPHEN V sold 10,000 shares of the company’s common stock on May 08 ’24 at a price of $90.88 per share for a total of $0.91 million. Following the sale, the insider now owns 82203.0 shares.

Microchip Technology, Inc. disclosed in a document filed with the SEC on Mar 07 ’24 that SANGHI STEVE (Executive Chair) sold a total of 36,443 shares of the company’s common stock. The trade occurred on Mar 07 ’24 and was made at $93.10 per share for $3.39 million. Following the transaction, the insider now directly holds 10.09 million shares of the MCHP stock.

Still, SEC filings show that on Mar 06 ’24, Johnson Karlton D (Director) disposed off 92 shares at an average price of $86.88 for $7993.0. The insider now directly holds 1,697 shares of Microchip Technology, Inc. (MCHP).

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