Microchip Technology, Inc (NASDAQ: MCHP) is -27.79% lower on its value in year-to-date trading and has touched a low of $62.62 and a high of $100.57 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 $64.88 in the last trading session, with the day’s gains setting it 0.24%.
Currently trading at $65.12, the stock is -8.93% and -13.17% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.47 million and changing 0.37% at the moment leaves the stock -22.88% off its SMA200. MCHP registered -23.13% loss for a year compared to 6-month loss of -34.55%. The firm has a 50-day simple moving average (SMA 50) of $74.9964 and a 200-day simple moving average (SMA200) of $84.435.
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The stock witnessed a -13.67% gain in the last 1 month and extending the period to 3 months gives it a -18.38%, and is -2.21% 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 3.11% over the week and 3.28% over the month.
Microchip Technology, Inc (MCHP) has around 22300 employees, a market worth around $34.97B and $5.50B in sales. Current P/E ratio is 45.41 and Fwd P/E is 25.87. Profit margin for the company is 14.22%. Distance from 52-week low is 3.98% and -35.25% from its 52-week high. The company has generated returns on investments over the last 12 months (7.27%).
The EPS is expected to shrink by -67.03% this year
1622.0 institutions hold shares in Microchip Technology, Inc (MCHP), with institutional investors hold 99.82% of the company’s shares. The shares outstanding are 536.66M, and float is at 525.62M with Short Float at 5.77%. Institutions hold 97.71% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 68.03 million shares valued at $6.22 billion. The investor’s holdings represent 12.6231 of the MCHP Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 45.69 million shares valued at $4.18 billion to account for 8.4782 of the shares outstanding. The other top investors are STATE STREET CORP which holds 25.49 million shares representing 4.7304 and valued at over $2.33 billion, while T. ROWE PRICE INVESTMENT MANAGEMENT, INC. holds 3.4398 of the shares totaling 18.54 million with a market value of $1.7 billion.
Microchip Technology, Inc (MCHP) Insider Activity
The most recent transaction is an insider sale by Bjornholt James Eric, the company’s Senior VP and CFO. SEC filings show that Bjornholt James Eric sold 2,154 shares of the company’s common stock on Aug 23 ’24 at a price of $81.50 per share for a total of $0.18 million. Following the sale, the insider now owns 33257.0 shares.
Still, SEC filings show that on Jun 10 ’24, CHAPMAN MATTHEW W (Director) disposed off 2,748 shares at an average price of $93.88 for $0.26 million. The insider now directly holds 35,682 shares of Microchip Technology, Inc (MCHP).
